Consumers Could Curtail Spending in Months Ahead

As reported by RetailingToday.com

Concern about rising energy prices and higher medical costs has many Americans expecting to spend less in the months ahead, a recent Deloitte study revealed. Despite showing no signs of spending less in recent months, the Deloitte survey found that nearly three-quarters (74%) of Americans believe higher prices could slow their spending in the months ahead.  Deloitte’s study also revealed that mobile and social connections are helping shoppers make savvier buying decisions in the wake of the recession.

According to the survey, more than seven out of 10 (71%) respondents cite concerns about higher energy prices, up from 54%at this time last year, and nearly one-half (47%) point to higher medical costs. Additionally, 44% indicate political unrest in other countries as a factor that could cause them to lower their spending.