PYMNTS Report Highlights Polarized Consumer Spending and Digital Commerce Shift

PYMNTS Intelligence said on March 4, 2026, that February readings from its newly launched Consumer Expectations Index, or PCEI, were mostly in the 50s across generations. The figures suggest that confidence in jobs and income remains strong enough to support spending even as inflation stays above 2%. By measuring resilience, financial constraints and job security, the index helps explain why consumption has not stalled but increasingly varies by income.

Recent earnings reports reinforce that picture. Walmart said on February 19 that households earning less than $50,000 a year remained under pressure and that it had offered price reductions on more than 6,200 items during the quarter. JPMorgan reported card spending growth of about 7% across income groups, while spending on the American Express network rose 8% and luxury spending increased 15%. Amazon also said on February 5 that about 300 million people used its Rufus AI assistant in 2025 and that users were about 60% more likely to complete a purchase.