Heightened caution and a renewed focus on financial discipline
characterize the global consumer environment as we enter 2026. Our
latest consumer data reveals a deepening frugality, with the
anticipated global net intent for reduced spending reaching -18
percentage points (ppts)—more than 60% greater than last
year's projected contraction.
This shift highlights the persistent economic uncertainty that
is shaping consumer priorities, as inflationary pressures and muted
wage growth continue to constrain disposable income across
demographics, albeit varied by individual country. Notably, the
traditionally resilient group of high-income earners is signaling a
potential pullback in overall spending, reflecting the broad reach
of today's financial headwinds.
