More U.S. consumers are curbing their spending and their activities outside the home as price increases, pandemic fears and economic stress ding their confidence, according to ICSC’s recent Coronavirus Consumer Survey of 1,024 U.S. adults conducted Jan. 14 to 16.

ALSO CHECK OUT: Cumulative ICSC Coronavirus Consumer Survey results from April 2020 forward

Consumers’ opinions of the economy are worsening; 49% say the current economic situation is worse than it was a month ago, compared with the 39% in December who said conditions then were worse than in November. Baby Boomers were the most pessimistic in the most recent survey, as 57% of them said economic conditions are worse than a month ago.

Most consumers don’t see the economy improving in the near future, and they plan to adjust their spending accordingly. Forty-five percent expect the economy to get worse within the next year, and 71% are cutting back on spending. More Gen Xers, 74%, are cutting back than any other generation. Seventy-three percent of consumers in both urban and suburban areas and 76% of those living in households earning less than $50,000 per year are cutting back.

Higher prices are influencing 86% of U.S. adult consumers’ purchasing habits. Fifty-eight percent of those altering their spending behaviors are buying fewer products overall; 49% are buying brands on sale, 44% are switching to generally cheaper brands and 28% are switching to store brands.

Supply chain kinks continue to vex shoppers. Sixty-eight percent have experienced issues with merchandise unavailable in store and/or online over the past couple of weeks, up from 64% last month. And 47% have had shipping and delivery issues with merchandise they ordered, up from 46% last month.

A shortage of employees also is affecting the shopping experience, as 69% of U.S. adult consumers have experienced short staffing, diminished operating hours or temporary closures at stores and restaurants due to the surge in COVID cases.

Consumers’ Safety Measures

Among U.S. adults , 62% are being more cautious in public than at any other time during the pandemic.

Measures Consumers Are Taking as Omicron Spreads

47%  Being stricter with wearing a mask
41%  Visiting fewer stores and/or visiting stores less often
38%  Spending less time in stores
27%  Cutting back on indoor dining and/or turning to more takeout meals
24%  Avoiding crowds by shifting the time of day and/or day of week to shop
23%  Limiting personal or other types of services like gyms, salons, movie theaters or leisure or entertainment venues
20%  Canceling or postponing travel
19%  Buying essential items in bulk
18%  Doing more click-and-collect/contactless purchases
17%  Ordering groceries online for home delivery
8%    Returning to work from home

Meanwhile, it seems most U.S. adult consumers are ready for a reset to a new normal. Though the omicron surge has affected 61% directly, 64% say it’s time for society to learn how to live with the virus and the course it takes without resorting to closures/shutdowns.

ICSC’S CORONAVIRUS CONSUMER SURVEY ONE MONTH AGO: Inflation has some U.S. consumers trimming their budgets