As economists and market watchers debate whether a full-blown recession is looming or merely simmering under the surface, consumer behavior is already offering important clues. 

Despite economic headwinds and fluctuating consumer sentiment, Americans are spending more on ice cream. 

New Empower data shows a marked shift in where shoppers are choosing to spend. The winner? Dollar stores.

According to new Empower research, 47% say the increased cost of living, economy (44%), and tariffs (30%) are impacting 2025 travel plans. 

Americans are pumping the brakes on gas spending—driven by economic caution, evolving lifestyles, and emerging technologies.

Over 1 in 2 Americans (51%) have made a purchase or investment due to financial FOMO — the fear of missing out on a financial opportunity or experience, according to new Empower research. 

Empower’s latest research, based on a nationally representative survey of employed Americans, reveals while most employees are optimistic about reaching long-term financial goals, nearly as many are anxious about their day-to-day financial futures.

The numbers from Empower Personal Dashboard™ from January 2020 through March 2025 suggest a pattern of lifestyle recalibration, with consumers allocating dollars toward convenience, wellness, and personal enrichment, even as they experience pressure in cost-of-living expenses. 

Money is on the move – and Americans are standing at the precipice of big financial choices ahead. On America’s financial scorecard, people rate their happiness with their overall personal finances a 4.97 out of 10, according to new research from Empower – and scores need improvement across the board, as the majority (91%) are prioritizing their financial health and happiness in a year of decisions ahead.

The combination of low awareness, high privacy concerns, and the clear demand for human-AI collaboration suggests that trust — not technology — is the necessary ingredient for AI adoption in consumer finance.

Nearly half of Americans (45%) feel financially prepared for retirement or felt so prior to retiring. 

New Empower research finds that Americans believe there's a secret to success, starting with an average yearly salary of $270,000.