Impact of inflation on preferred e-commerce payment method in the U.S. 2022

Published by Statista Research Department, May 29, 2024
Cost of living in 2022 changed payment behavior for online shopping in the United States, with five out of 10 respondents now using debit cards more often. This according to a survey held in 10 different countries across North America, Europe, and Latin America, and purely asked on whether cost of living had changed payment behavior in those countries. Credit cards, BNPL, and crypto were all used more often, but neither saw the largest growth: 51 percent of respondents who changed their payment habits because of the rising cost of living in 2022 are paying online with debit cards more often than they did in the previous year.

Share of consumers in the United States who indicated that increasing cost of living changed their preferred online payment methods in 2022

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Release date

June 2022

Region

United States

Survey time period

April 2022

Number of respondents

1,988 (875 of whom changed payments)

Special properties

Consumers; Figures on individual payment methods refer to those consumers who indicated they have changed their payment habits

Method of interview

Email survey

Supplementary notes

The figures shown here are from two separate, but connected survey questions. These were phrased by the source as follows:

  1. "Has the rising cost of living impacted your choice of payment method for online purchases?";
  2. "You have said you have changed the way you use certain online payment methods. Which payment methods are you using more often?"

The source does not provide information regarding multiple answering options.

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