Changing Consumer Trends – What’s New and What’s Not?
Consumer spending accounts for over 60% of the U.S. GDP. That means even small changes in consumer habits and sentiment can have big ramifications for the entire economy.
What lessons can business leaders learn from recent history? And what are the key patterns to adapt to changing conditions in the future? To learn about these important trends, we gathered experts from across the firm to provide their insights.
Ginger Chambless, Head of Research for Commercial Banking, joins Alton McDowell, Nate Moyer and Michelle Yeh from J.P. Morgan’s Technology and Disruptive Commerce Group. Together, the four explore U.S. consumer trends from the 2008 global financial crisis and how they compare to today’s economic climate.
The discussion addresses some of the key factors that distinguish the two eras:
- Access to information through smartphones and social media
- Digital transformation, e-commerce and digital platforms
- Solid household cash levels following COVID stimulus
- Shifting consumer priorities and preferences