With insight into 1 out of every 2 debit and credit card swipes in the US, Cardlytics is committed to helping marketers understand and respond to current trends that are impacting their industries.
We put these purchase insights into action every day through precisely targeted campaigns that drive incremental return on ad spend. This report highlights important shifts in consumer spend in the first quarter of 2022 across industries so marketers can take action to drive measurable sales.
Consumer spending in the United States has been on the rise over the past four years, and despite the effects of inflation, consumers are continuing to spend more than ever with consumer spend up 7% in Q1 2022 vs. Q1 2021.
The effects of record level inflation, however, are starting to be seen. Fluctuation in the last weeks of March indicates consumers have started to pull back on their spending. This has led to a slowing growth rate after strong spending in January and February.
Online vs. In-store
The way consumers purchase has changed quite dramatically in the past three years. Consumer confidence in in-store shopping is stabilizing, as online sales growth slows after pandemic-driven multi-year growth.
Shifts in consumer spending habits over the last two years required brands to reevaluate their online customer experience. Companies large and small that quickly responded, thrived. The immense transformation experienced within disruptor categories, such as Restaurant delivery and Direct-to-Consumer (DTC), led to massive growth. Slowing growth for these categories in 2022 indicates that while they are here to stay, brands need to determine the right path forward in targeting the right consumers more effectively and cost-efficiently.