December 21, 2022
, “The Modern Recession: Considerations for Brands & Retailers,” the data and tech company revealed that 72% of U.S. consumers feel that they are amid a recession, despite no official claim from the Federal Reserve.
The findings from Numerator include:
Not all demographics share the same concern about a possible recession. 33% of Gen Z consumers say they're concerned about an economic recession, compared to over half of Gen Xers (50%) and Boomers (53%).
Retail has changed significantly since The Great Recession in 2008. Numerator found that online consumer product goods (CPG) sales have grown more than 350% in the last five years alone, and 84% of U.S. households turn to e-commerce retailers to purchase grocery, health and beauty, household, pet and/or baby products (up from 62% in 2017).
Private label offerings have a 17.1% share of total CPG spend, giving consumers more low-cost options when looking for deals.
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