Economists can debate whether we're in a recession or not, but it's clear that U.S. businesses are changing their buying behavior and it's key for agents to recognize and adapt to these trends. (Credit: fizkes/Adobe Stock)
With the Federal Reserve hiking interest rates by 0.75% for the third time in a row to fight inflation and fears of recession, this economic climate's impact on the U.S. consumer contrasts past climates due to the difference in response across age groups, income levels and purchase behaviors. One common behavior, however, is the rise in consumers adopting a "buy now, pay later" approach to their purchase patterns.
Although this specific analysis focuses on consumer shopping behavior, it would be short- sighted to not look into whether these similar sentiments carry into decisions made by business owners.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
