How are consumers addressing changes in their cost of living? [Video]

Nearly nine in 10 Americans have seen their cost-of-living increase over the past five years, and a new study has found it’s having a massive impact on how they’re shopping, particularly online.

The poll of 2,000 U.S. adults found consumers now spend the most on groceries (35%), clothing (27%) and home goods (17%) when shopping online.

Over three in four (76%) believe the underlying cause for cost-of-living increases is due to inflation, leading 61% of consumers to shift their online shopping habits.

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Commissioned by Forter and conducted by Talker Research, the study showed people have addressed the changes in their cost of living by shopping less often (55%), buying only necessities (44%) and buying the cheapest version of the products they want (34%).

Over a third (37%) have also had to shift their travel plans for the next year due to cost-of-living increases. …