LTK recently conducted a study to understand the current impact inflation is having on shopping across generations in the United States. Key demographics least implicated by inflation are Gen Z, Millennials and HH income over $100k.

But, the majority of the population is thinking about their finances more than they were six months ago.

So what does that boil down to? 

People want to avoid paying more at the pump with rising gas prices. Half of Americans say they will drive less as a way to save money. The second ranked money-saving strategy was shopping online with the majority of those doing so on their phones. Gen Z led that group with more than 65% saying they will shop online to save money. 

That’s where creators come in. LTK’s survey found that people are turning to creators to help them find the best deals and make thoughtful purchases. Overall, LTK data shows that creators rank right under friends and family when it comes to online shopping recommendations, but Gen Z said they trust creators even more than friends and family. And in fact, LTK data shows that an influencer post is driving almost as much traffic in store as it is online.

While consumers think about saving, there are categories they are willing to splurge on. The most indulgent categories include shoes, personal care items, beauty, natural or organic products, travel, electronics and even food. 

Brand marketers may find these insights useful in helping to understand the impact inflation is having on shopping behaviors as they evaluate spending. Creator-guided shopping is effective, efficient and scalable through LTK technology.   And, because LTK Creators are commerce-focused, making their lives fully shoppable, they are able to easily pivot based on consumer behaviors and interests to help make an impact. Also, 61% of LTK creator posts provide sales and deals alerts - helping the shopper find affordable options. Their audiences are highly engaged and loyal to their recommendations. 

The survey was conducted online in May 2022 among 1,052 US adults, reflective of the US population with 97% confidence.