According to McKinsey's ConsumerWise team US consumer optimism moved the needle on reported spending habits reaching a two-year peak.
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McKinsey & Company.Consumers signaled their intention to boost their purchases of essential items, with the average consumer planning to increase spending on fresh produce, meat and dairy, as well as items found in the center-store categories of grocery stores, encompassing shelf-stable and frozen foods. Regarding discretionary spending, February saw consumers expressing a greater inclination to allocate funds towards travel and home-related expenses, such as short-term rentals, home improvements, hotel resort stays, and flights, compared to the fourth quarter of 2023.
Conversely, consumers anticipated scaling back their purchases of toys, which aligns with the typical trend of reduced toy sales after the holiday season. Concurrently, consumers projected dedicating more of their budget to fitness and wellness, mirroring customary spending patterns at the outset of a new year.
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