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
Rising costs in major categories like housing could drive consumers to seek more cost-saving opportunities.
Deloitte’s US financial well-being index held steady at 98.7 in March, unchanged from the previous month and down slightly from 99.7 a year ago (figure 1).
Inflation rose to 3.5% in March due to increased monthly energy prices and elevated shelter-related inflation (figure 10).
Consumers’ forward-looking monthly spending intentions for housing and utilities have gradually climbed over the past year (figure 3).
Rising cost pressures—particularly in major categories like housing and energy—likely continue to weigh on consumer spending sentiment. Consumer monthly spending intentions remain weak across discretionary categories relative to 2021 (figure 2).
Decreased monthly spending intentions have been particularly pronounced in discretionary categories such as clothing (figure 3). While more moderate, decreases occur in non-discretionary categories like groceries (figure 3).
In contrast, leisure travel sentiment remains exceptionally strong. Leisure travel spending intentions and hotel and flight-booking intentions are even year on year, suggesting a solid summer 2024 travel season similar to 2023 (figures 3 and 4).
Notes: In figure
1, Deloitte’s financial well-being index* 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 stronger financial well-being. In figure 2, 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. Non-discretionary categories include housing, transportation, groceries,
and health care. Discretionary categories include clothing, household goods, personal care, education,
internet and data, recreation and entertainment, leisure travel, restaurants, electronics, and home furnishings.
Sources: Deloitte ConsumerSignals; US Bureau of Labor Statistics.
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.