1 year ago
Consumers Battling Cost of Living Crisis Are Choosing Affordability Over Brand Loyalty
Affordability is the leading concern for 35 percent of global consumers today, according to new survey data from EY, increasing by 10 percent since October 2022. EY’s Future Consumer Index surveyed more than 21,000 consumers across 27 countries to understand consumer sentiment and behaviors with 94 percent reporting that rising living costs are a concern. The concern is presented in shifts in purchasing habits and many say they are losing trust in retail and consumer product companies.
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