Things to Know About Inflation & the Consumer – China Edition (Wave 4)
Things To Know About Inflation & the Consumer – China Edition (Wave 4)
March 9, 2023
CONSUMERS
& INFLATION
THINGS TO
KNOW ABOUT...
CHINA
WAVE FOUR
(among those who are concerned, N=824)
How consumers shop differently now:
Fewer impulse purchases
Buy higher quality, longer-lasting items
Fewer shopping trips
More research so I can get the best value
TOP CONCERNS
IMPACT ON SHOPPING
43%
38%
For More Information Contact: Corporate Strategy & Insights at [email protected]
Source: Cotton Incorporated’s Inflation & Supply Chain Survey, N=1,000 counducted on Jul 2022 (Wave 1), Aug/Sep 2022 (Wave 2),
October 25, 2022 (Wave 3), January 2023 (Wave 4).
AMERICA’S COTTON PRODUCERS AND IMPORTERS. Service Marks/Trademarks of Cotton Incorporated. ©2023 Cotton Incorporated.
50%
consumers
are
personally
very
concerned
about the
economy
SUPPLY CHAIN
73%
say they have been
impacted by shortages in
the supply chain
71%
25%
4%
SLIGHT
MODERATE
SEVERE
ACTIONS TAKEN TO GET PRODUCTS NEED/WANT
(among impacted, N=731)
35%
wave 1 wave 2 wave 3
Jul ‘22 Sep ‘22 Oct ‘22
wave 4
Jan‘23
35%
40%
45%
64%
38%
Potential for recession
45%
Wages/salary keeping
up with cost of living
35%
Cost of healthcare
Compared to a few months ago,
inflation is impacting consumers:
MORE SEVERELY
ABOUT THE SAME
LESS SEVERELY
23%
44%
32%
47%
Stock up on essentials
when I find them
Research online where to
find products in stock
Try new brand or similar
product
48%
41%
Ask friends and family to
help find products
41%