Value perception

With inflation in the US having decreased from about 5% in 2023 to 3% in 2024 and wages having risen faster than inflation, do consumers feel they can get more bang for their buck? In some categories it seems like it. Market researcher YouGov found that consumers perceive many categories offering more value for money in 2024 than in 2023. The largest gain was among car brands where the average value score increased from 4.5 to 7.1. Gains were also made in categories with a relatively low value score including consumer banks, gambling, and airlines. It is not shown in the graph below, but consumers have the highest value perception of home & personal care, food and appliances with scores between 12 and 16.

Source: YouGov, January 2025.