Consumer Spending and Financial Behavior | Fall 2025

Lauren Goldberg — Senior Analyst, Cultural Insights

38%

of U.S. consumers cut spending on dining out in September.
Gen X consumers lead at 44%.

A New Season of Shifting Priorities

As the U.S. heads into fall, consumer spending behavior is shifting in subtle but powerful ways—reshaping priorities, redefining value, and revealing deeper signals about financial resilience. While headlines often highlight broad economic trends, our latest consumer insights uncover what’s happening beneath the surface across key demographic groups, including multicultural consumers who continue to set the pace for evolving financial behavior.

Caution Meets Selective Confidence

Early indicators show that Americans are entering the season with a blend of caution and confidence. Essentials continue to command the bulk of household spending, yet consumers are taking a more intentional approach to discretionary categories. Even small adjustments in how people dine out, entertain, or save point to larger changes in mindset—changes brands need to understand before the holiday season takes shape.

Financial Sensitivity Remains Part of the Landscape

Despite steady employment and moderating inflation, many consumers remain highly attuned to financial uncertainty. This has prompted a recalibration of what “worth it” really means. Experiences, once dominant, are becoming more selective choices, while everyday necessities regain cultural importance. Distinct behaviors among Hispanic, Black, and Asian American consumers signal emerging patterns that could influence broader market dynamics in the months ahead.

Reprioritization, Not Retreat

Fall data also reveals rising emphasis on budgeting, trade-offs, and the pursuit of long-term stability. Even when consumers cut discretionary spending, they’re not stepping back—they’re redefining their priorities. These behavioral shifts offer valuable clues into how people will approach major spending windows later this year.

What This Means for Brands

For brands, these trends highlight the need for deeper cultural fluency and sharper financial behavior insights. Consumers aren’t simply tightening or loosening their wallets. They are navigating economic realities in ways shaped by values, identity, community, and optimism—or in some cases, caution. Understanding how multicultural consumers in particular blend practical needs with aspirational goals can help companies position their products around what matters most right now.

Get the Full Picture

The full report uncovers:

Where consumers are cutting back—and where they’re still spending
How inflation pressures are influencing the financial decisions of multicultural consumers
Why some segments are accelerating savings and investing behaviors
What brands can expect from households heading into late 2025

Explore the insights shaping the next chapter of U.S. spending. Download the exclusive excerpt from our Fall Consumer Spending & Financial Behavior Report.