First Insight’s European Inflation Report (2022) reveals that consumers in the US, UK, and Europe are experiencing declining confidence and shifting purchasing behavior due to rising costs. Over 85% are shopping more cautiously, focusing on groceries, gas, and dining out. German and Spanish consumers show the greatest behavioral shifts, while French consumers are least impacted. Shoppers are embracing private labels, discounts, and budget discipline, with 40% cutting back on name brands. Entertainment, travel, and discretionary spending are declining, while over 90% of consumers fear recession. Despite this, nearly half are saving less or using savings to cope.

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