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INFLATION CONCERNS MOUNT HEADING INTO 2023

Even though a new year is here, concerns about inflation are causing retailers to find new ways to approach customers and affecting how people live, shop and work.

GROCERY SHOPPING SHIFTS

Current economic conditions, including rising food costs, are impacting customer shopping habits. • 83% of survey respondents rely on some form of coupon, rewards app or loyalty program. • 74% have changed their grocery shopping habits in the last year. • 70% of respondents prefer to shop in-store at a local grocery store. • 33% are shopping in-store more than in years past.

Source: Swiftly, "Consumer Trends and Sentiment Survey on Grocery Shopping," Nov. 2022

OMNICHANNEL COMMERCE TRENDS TO WATCH IN 2023

• Payment choice will help businesses meet consumer needs. • Businesses will optimize payment • Businesses will optimize payment fl ows to protect against economic uncertainty. • Businesses will move their payments data to the cloud. • Businesses will enhance digital wallet experiences to deepen consumer wallet experiences to deepen consumer loyalty.

Source: Fiserv, "Four Omnichannel Commerce Trends to Prepare for in 2023," Dec. 2022

RECESSION OUTLOOK

35% of Americans believe the U.S. is in a recession. 24% of Americans think the U.S. will enter into one in the next month. 10% believe the U.S. will be in a recession in a year or more. 30% believe the U.S. will never be in a recession.

Source: Civic Science, "Immediate Insights: Majority of Americans Still Believe the U.S. Is in a Recession or Headed Toward One," Dec. 2022

INDUSTRIES ARE LOSING WORKERS

A number of industries are losing employees as infl ationary concerns impact their job decisions. The industries losing the most employees include: • The foodservice industry, with 5.8% of its employees quitting each month. • The retail industry, with an average of 600,400 employees quitting every month. • Arts, entertainment and recreation, with 82,200 employees leaving every month. • Professional and business services, with 754,000 employees leaving every month. • Transportation, warehousing and utilities, with 199,400 employees leaving every month.

INFLATION WOES

Customers are overwhelmingly concerned about infl ation.

96% of Americans noted they were concerned about infl ation. 43% of Americans are extremely concerned. 30% of Americans are very concerned. 23% of Americans are somewhat concerned.