Transunion research into pandemic’s impact on consumer spending

TransUnion published the latest report from its Consumer Pulse study, which has been tracking the financial impact of the pandemic. The research found that, with the relaxation of lockdown, alongside hospitality and travel industries re-opening over the summer, consumers are less likely to think the pandemic has impacted their household income,

TransUnion found that 25% of consumers believe their household income is being impacted negatively, down from 38% in Q1. The most dramatic drop-off can be seen among younger consumers, with just 31% of Millennials and 32% of Gen Z saying their overall household finances have been impacted, down from peaks of 44% and 50% respectively earlier in this year.

Source: TransUnion