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They are worried about the future, with 63% not expecting the economy to recover within the next 12 months and 62% expecting their living costs to increase over the next six months.

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This latest edition of the EY Future Consumer Index (Index) – the 10th in the series – shows that people have become used to living in a context of relentless crisis and uncertainty. In the minds of consumers, the distinction probably doesn’t matter. It’s debatable whether this combination of factors is creating a new crisis or simply extending the one we were in already. The global economy is slowing down, interest rates are going up, inflation has returned on a scale not seen for decades, geopolitics is playing out on the global stage, and new variants of COVID-19 continue to emerge. And when it looked as though the clouds were slowly starting to lift, people started to prioritize a new set of “post-crisis” values, especially around sustainability.īut that post-crisis era is yet to arrive. As the economic impact of the pandemic took its toll, they shifted their attention to affordability and the cost of living.

When the COVID-19 pandemic first emerged, people put their health first, adopting very different behaviors and attitudes almost literally overnight. For consumers around the world, the last few years have been an unwanted rollercoaster ride.

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