Price sensitivity measures how demand changes with price variations. Highly price-sensitive products often have readily available substitutes. Consumers can save by comparing prices on elastic goods ...

Consumer spending makes up two-thirds of U.S. GDP, but the economy cannot rely on wealthy consumers alone. Lower- and middle-income households account for the bulk of total consumption by volume. When ...

US consumers in lower income groups are becoming more sensitive to prices when making spending decisions, showing reluctance to fork out for non-essentials, the Federal Reserve said in a report on ...