Anthony is a partner with Deloitte & Touche LLP and serves as Vice Chair and Deloitte US Consumer Industry leader. Previously, he led our Advisory Consumer industry and Finance Transformation practices and was a member of Deloitte’s cross-business Finance Transformation leadership team. With nearly 30 years providing services to multinational clients in the consumer products, transportation, hospitality, retail and distribution sectors, he focuses on assisting clients with transformational initiatives involving the development and/or evaluation of finance operations and programs designed to improve financial integrity, compliance and operational effectiveness and efficiency. Anthony also serves as a lead business partner and advisory partner for a select group of strategic global consumer clients.
He’s a thought leader and has co-authored several pieces on consumer trends and marketplace shifts, as well as, the evolving role of the corporate controller. Across Deloitte, he is known for teaming & inclusiveness, driving collaboration in industry transformation efforts, and leading Finance Transformation integrated market offerings.
Steve is the managing director of Deloitte's Consumer Industry Center, Deloitte Services LP. He leads a team that conducts research to uncover new ways of thinking, working, and leading within the consumer industry through data and evidence driven analysis.
With more than 20 years of experience within consulting and high tech, Steve is especially interested in the intersection of technology, consumers, and business. He is focused on how industry leaders can deliver better results and the strategies organizations use to adapt to accelerating change.
Key insights about US consumers from Deloitte’s ConsumerSignals
Consumer spending intentions have yet to surpass 2022 levels as financial well-being sentiment remains unmoved from a year ago
Deloitte’s financial well-being index increased to 99.0 in January, up slightly from 97.4 recorded in December 2023. Over the longer term, the index mirrors levels measured a year ago (figure 1).
The percentage of US survey respondents anxious about the direction of the economy eased to 31% in January, down from 43% in July 2023. The percentage anxious about their personal finances, however, remains slightly elevated at 43% (figure 2).
Strong consumer spending intentions in December 2023 (figure 3) coincided with healthy spending on goods the same month (figure 5). Consumer spending, however, cooled post holidays. Both consumer spending intentions (figure 3) and US retail sales fell in January (figure 7). Meanwhile, savings intentions held steady (figure 4).
Over the longer term, consumer spending intentions have yet to return to 2022 levels (figure 3).
*Deloitte’s
financial well-being index in figure 1 is measured across six dimensions of financial health: (1) confidence
in the ability to meet current financial obligations, (2) comfort with level of savings, (3) income relative
to spending, (4) delays in making large purchases, (5) assessment of current personal financial situation
compared to prior year, and (6) expectations of personal financial situation for the year ahead. Higher
index values represent strong financial well-being and vice versa. In figure 4, total spending intentions
include housing (including utilities and maintenance), transportation, groceries, health care, clothing,
household goods, personal care, education, internet and data, recreation and entertainment, leisure travel,
restaurants, electronics, and home furnishings.
Source: Deloitte ConsumerSignals.
Deloitte Insights | www2.deloitte.com/insights
Sources: US Department of Commerce, US Bureau of Labor Statistics, The Wall Street Journal (all sourced through Haver
Analytics); Deloitte Services LP analysis.
Anthony is a partner with Deloitte & Touche LLP and serves as Vice Chair and Deloitte US Consumer Industry leader. Previously, he led our Advisory Consumer industry and Finance Transformation practices and was a member of Deloitte’s cross-business Finance Transformation leadership team. With nearly 30 years providing services to multinational clients in the consumer products, transportation, hospitality, retail and distribution sectors, he focuses on assisting clients with transformational initiatives involving the development and/or evaluation of finance operations and programs designed to improve financial integrity, compliance and operational effectiveness and efficiency. Anthony also serves as a lead business partner and advisory partner for a select group of strategic global consumer clients.
He’s a thought leader and has co-authored several pieces on consumer trends and marketplace shifts, as well as, the evolving role of the corporate controller. Across Deloitte, he is known for teaming & inclusiveness, driving collaboration in industry transformation efforts, and leading Finance Transformation integrated market offerings.
Steve is the managing director of Deloitte's Consumer Industry Center, Deloitte Services LP. He leads a team that conducts research to uncover new ways of thinking, working, and leading within the consumer industry through data and evidence driven analysis.
With more than 20 years of experience within consulting and high tech, Steve is especially interested in the intersection of technology, consumers, and business. He is focused on how industry leaders can deliver better results and the strategies organizations use to adapt to accelerating change.