Consumer Pulse: Understanding How Consumers Navigate Economic Change

How is Economic Uncertainty Shaping Consumerism Today?

From tariff policy and interest rates to inflation and market fluctuation, economic uncertainty is pervasive and growing.

What does it all mean for consumers – their habits, attitudes, fears and priorities? And what are the implications for brands seeking to engage with them?

Through Online Anthropology, Material Spotlight and cultural insights, Material’s ongoing content series uncovers the human impact of economic uncertainty – and how brands can respond.

KEY FINDINGS AS OF NOVEMBER 2025

Approaching an Uncertain Holiday Season

Our latest Spotlight and Online Anthropology research shows consumers are entering the end-of-year shopping season with sentiment split and budgeting firmly embedded. Self-gifting behavior is on the rise, while 70% of consumers indicate that they plan to scale back on non-holiday purchases to offset the impact of holiday shopping. The full report, at the link below, details our latest findings.

Among holiday shoppers

70%

plan to cut back in other spending areas

As shopping season begins

19%

will start spending earlier than last year

Amidst tariff uncertainty

48%

will consider American-made products

What’s next?

What can brands do during times of uncertainty? It begins with gathering insights into consumers’ behavior, motivations and sensitivities. These findings, for example, suggest consumers are adapting to their economic situations, not panicking. They’ve emotionally plateaued and have moved from high anxiety to normalizing defensive behaviors like budgeting. Being able to meet your customers where they are is the first step to engagement and loyalty, regardless of economic uncertainty.

How is Economic Uncertainty Shaping Consumerism Today?

From tariff policy and interest rates to inflation and market fluctuation, economic uncertainty is pervasive and growing.

What does it all mean for consumers – their habits, attitudes, fears and priorities? And what are the implications for brands seeking to engage with them?

Through Online Anthropology, Material Spotlight and cultural insights, Material’s ongoing content series uncovers the human impact of economic uncertainty – and how brands can respond.

Approaching an Uncertain Holiday Season

What’s next?

Explore the Series

What’s Driving Holiday Spending Behavior in 2025?

From Anxiety to Adaptation: Understanding Economic Uncertainty + Consumer Sentiment in 2025

Consumer Pulse (August 21, 2025): Normalizing Uncertainty

Consumer Pulse (July 23, 2025): Less Big Picture, More Personal Finance

Report: Spotlighting Price Sensitivity + Brand Loyalty in Economic Uncertainty

Consumer Pulse (May 28, 2025): Budgeting Concerns + Big Ticket Items

Consumer Pulse (May 7, 2025): Rising Uncertainty & Declining Confidence