Ahead of the all-important holiday season, research from Alvarez & Marsal suggests that consumers have lingering concerns about their financial futures during the COVID-19 pandemic.
However, consumers’ financial expectations vary by background. The report found that 65% of Black respondents and 55% of Hispanic respondents anticipate earning more money over the next six months, compared to 34% of White respondents.
As for where consumers are spending money, the categories are few and far between. Alvarez & Marsal found that consumers plan to spend the same amount or less in 15 of 18 categories studied.
