Fuel costs cause some shoppers to tap the brakes on spending
Those concerned about gas prices are more likely to strategically pull back
Consumers who report gas prices as a factor impacting their outlook on the U.S. economy (65%) are taking measures to curb their overall spending. They report their spending as less compared to a year ago (31%) — signaling an intentional effort to lower spending — while only 19% of those not concerned about gas prices said the same. These concerned consumers are also more budget-conscious and careful about what they spend (58%) than those who didn’t report gas prices as a concern (47%), representing a more cautious engagement in the retail space and an opportunity for retailers to rethink strategy.
Cost-cutting measures across the board
Of consumers concerned about gas prices, nearly all (92%) say their economic outlook is impacting their spending plans, higher than those not concerned about gas prices (80%). Specific changes they reported include:
Shopping less to spend less
Scaling back across the board, consumers concerned about gas prices are making fewer trips to stores in general (35%). They report shopping less overall; not just in physical stores, but online as well.
Is your outlook for the U.S. economy impacting your
spending in any of the following ways?
Back to basics just to get by
Concerned consumers are more focused on buying what they need rather than what they want (61%) and are also cutting back on non-essential purchases (43%) as a whole. Trimming further, concerned consumers reported additional spending impacts driven by their economic outlook:
Key takeaway: Gas prices tighten some budgets, but price and value drive decisions
Concerned consumers are scrutinizing purchases more closely and trending toward deliberate and often value focused decisions. While price matters, it isn’t the sole driver. Brands should consider a compelling omnichannel communications strategy that clearly emphasizes value, paired with strong promotional offers to draw shoppers in. As concerned consumers increase their efforts to deal-hunt (37%) and comparison shop (29%), the brands that make comparing prices easy have an opportunity to seize the competitive edge, and the sale.
Source: Bread Financial proprietary study, Consumers & Payments, June 2026
About Bread Financial®
Bread Financial® (NYSE: BFH) is a tech-forward financial services company that provides simple, personalized payment, lending and saving solutions to millions of U.S. consumers. Our payment solutions deliver growth for some of the most recognized brands in travel & entertainment, health & beauty, technology, electronics, jewelry, home and specialty apparel through our co-brand and private label credit cards and pay-over-time products providing choice and value to our shared customers. Additionally, we offer Bread Financial general purpose credit cards and saving products that empower our customers and their passions for a better life.
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