Headlines

Americans Responding to Financial Pressures: Survey

Retailers likely hit by consumers’ switch to cheaper brands, slower discretionary spending.

Published

7 months ago

April 8, 2026

Tougher economic times have American shoppers being more selective in what they buy. Photo: DragonImages/iStock by Getty Images.

Americans aren’t taking today’s turbulent economic times sitting down; they’re taking specifics actions to cut costs and save more, a recent survey of 1000 consumers commissioned by KeyBank finds. And many of those actions are likely impacting their spending decisions with retailers of virtually all stripes.

To start with, 88% of those surveyed for KeyBank’s 2026 Financial Mobility Survey Pulse Poll say they have made at least one meaningful adjustment to their financial behavior, a figure that spans income levels and generations. The most common strategies include:

Switching to less expensive brands or services (59%, up from 49% in 2025)
Cutting subscriptions or memberships (51%, up from 41%)
Reducing discretionary spending (11%, up from 8% in 2025).

“The financial pressures people face today are real and widespread across the financial spectrum,” said Daniel Brown, EVP & Director, Consumer Product Management at KeyBank. “What stands out, though, is that Americans aren’t waiting for conditions to improve. They’re being proactive and resourceful in response to these pressures, and these aren’t just one-time reactions … People are navigating the current economic climate through daily decisions that are quickly becoming lasting habits.”

Click here for more from the KeyBank survey, which was conducted earlier this year by Schmidt Market Research.

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