Consumer Pulse Report: Economic Anxiety & Innovation Drive Change in Banking and Finance
How consumer spending and expectations are shifting amongst uncertain macroeconomic conditions and an unprecedented level of choice in emerging financial services
In our first Consumer Pulse Report, Marqeta surveyed 4,000 consumers in the UK, Australia and the United States to learn how today’s dynamic economy and technological innovation are driving their choices and expectations. From purchasing patterns to charitable giving, respondents painted a picture of rising costs, an uncertain job market and a profusion of new financial services and technology changing how they operate in the marketplace.
Over half of respondents (57%) agreed that recent headlines about the economy had changed their household budget.
51% of consumers currently renting reported that interest rate increases had caused them to delay a house purchase, with 54% of renters citing rent increases in the last 6 months.
In this economic environment, embedded finance options are making a clear case to consumers, with just under half (47%) of respondents reporting that they would consider financial services offered by non-traditional providers, including tech companies, social networks and retailers.
Download the full report for more insights into consumer attitudes in Q1 of 2023.
