We surveyed 500 UK adults to understand their views on this potential change, including how often they use contactless, how secure they feel, and what controls they’d like to see in a future without caps.

Quick Summary

• 77% of UK consumers use contactless card payments at least weekly
  
• Only 45% were aware of the FCA’s proposal to remove the £100 limit
  
• 53% feel positive about removing the limit, while just 20% are opposed
  
• The most popular option (51%) is for individuals to set their own limit
  
• 61% worry cards would become more valuable to steal without a limit
  
• Preferred safeguards include setting personal limits (50%), receiving instant notifications (49%), and requiring extra authentication (49%)
  

Contactless is the new normal

Contactless payments have moved from novelty to necessity in record time. Today, 77% of UK consumers use contactless at least weekly, with 30% using it daily. The most common purchases made via contactless are groceries (86%) and dining out (73%), clearly signalling that it’s firmly embedded in everyday routines.

The rise of mobile wallets has further accelerated the shift to contactless. With 75% of respondents using services like Apple Pay or Google Pay, smartphone wallets are now as mainstream as credit cards, which are held by 65% of respondents. Among younger consumers, smartphone wallets have overtaken debit cards as the most-used payment method. 

Currently, there’s no upper payment limit for mobile wallets – you can make payments above £100 without needing to enter a PIN. However, device payments are typically protected by biometric authentication (such as fingerprint or facial recognition), reducing the risk involved.  

Support for change – but with conditions

The majority of consumers (64%) are aware of the existing £100 limit on contactless card payments, but only 45% of respondents to our survey had heard about the FCA’s plan to scrap it. While knowledge of the proposed changes is limited, sentiment is generally positive: 53% of consumers feel good about the potential removal of the £100 cap (27% somewhat positive, 26% very positive), this is driven by feelings of greater convenience, speed, and flexibility when they are shopping. Just 20% are against it. However, this support is not without caveats.

When asked what they’d prefer, most consumers (51%) said they’d like to set their own transaction limit. Only 33% want to keep the £100 limit in place. Importantly, support for personalisation cuts across all age and income groups, though it’s most popular among younger adults (58% of 18-30 year olds).

Still, security is top of mind. 61% of consumers are concerned that cards would become more valuable to steal if limits are removed, while 40% worry about overspending. To address this, half want to set per-transaction limits, 49% want instant notifications when a contactless payment is made, and another 49% want PIN or biometric authentication for larger purchases.

Notably, only 23% favour daily or weekly spending caps, suggesting consumers prefer targeted, flexible security over blanket restrictions.

Attitudes vary by age, gender and income

Support for removing the limit is far stronger among younger consumers. Just over 65% of 18-30 year olds are positive about the change, compared to just 37% of those aged 50-67. Older adults are more than twice as likely to have negative feelings about the change (29% vs 11%), largely due to theft concerns.

Despite using contactless more often, younger people are also less aware of the current £100 limit and proposed changes. Only 47% of 18-30s correctly identified the limit, compared to 75% of those aged 50-67.

There are also clear gender differences. Men are more likely to be aware of the FCA proposal (49% vs 42% for women) and are slightly more in favour of removing the limit (55% positive vs 50%). Men are also more likely to favour customisable security features such as setting personal limits (56% vs 43%).

Income plays a role, too. High earners (£75k+) are more likely to be positive about removing the cap: 47% say they would feel ‘very positive’ about it, versus only 19% of those with a household income below £35k. Lower-income respondents are more concerned about overspending and more likely to prefer keeping the current limit in place.

What this means for financial services brands

The future of contactless isn’t just about convenience, it’s also about control. Consumers are comfortable tapping to pay, but they want the freedom to define how that works for them. Financial services brands that offer customisable limits, real-time alerts, and secure authentication options will be able to strike the right balance.

Awareness campaigns will also be critical. With nearly half of consumers unaware of such a significant regulatory proposal, brands have an opportunity to educate their customers and position themselves as transparent, consumer-first providers.

Crucially, 56% of consumers believe banks are ultimately responsible for preventing fraud on contactless purchases, and 53% say the same of card providers like Visa and Mastercard. This underscores the need for brands to take a proactive role in fraud prevention and clearly communicate what protections are in place.

Ultimately, contactless is only going to become more prevalent, and with the right tools in place, consumers are ready to tap into the next phase of digital payments.

The post Tap or Cap? What Consumers Really Think About Removing the £100 Contactless Limit appeared first on Attest.

In our latest research with 2,000 working-age consumers across the US and UK, energy emerged as the dominant driver behind functional beverage purchases. But it’s not just about the buzz. Consumers are also prioritising taste, low sugar content, and scientific backing, meaning brands need to deliver on multiple fronts to win loyalty in this fast-evolving category.

Quick summary

• 56% of US and 55% of UK consumers regularly purchase functional beverages.
• Energy is the top functional benefit in both markets, chosen by 60% in the US and 56% in the UK.
• 92% of US and UK consumers say taste is important – making it the most decisive purchase factor.
• 73% of US and 81% of UK consumers want clinical research to back functional claims.
• Sugar content matters more with age: 72% of older US consumers and 83% of regular UK consumers prioritise low/no sugar.
• Only 56% of US and 60% of UK consumers consider sustainability important, making it the lowest-rated factor.

US results

Functional drinks go mainstream

Functional beverages have become a staple in American shopping baskets. A significant 83% of US respondents say they consume these drinks at least sometimes, and over half (56%) do so ‘often’ or ‘very often’. Younger consumers and men are particularly engaged, with energy emerging as the dominant driver. Among regular consumers, 67% look for energy-boosting options, followed by sports performance at 39%. This preference aligns closely with gender: 67% of men prioritise energy, compared to 53% of women, while men also show stronger interest in sports performance (43%) [view US survey dashboard].

Age also shapes preferences. Consumers aged 31-49 are the most likely to value energy benefits (68%), while cognitive health matters more to this group than to younger or older cohorts. Women show higher interest in beauty, body support, and weight management. Overall, energy is the functional attribute with the broadest appeal, acting as a key entry point for brands to connect with consumers across age and gender.

Taste, sugar, and science: the decision trifecta

Despite the focus on function, US consumers won’t compromise on flavor. Taste is the top priority, with 90% of respondents saying it’s important or very important when choosing a functional beverage. Among frequent buyers, this rises to 92%. Taste outranks even price (82%) and low/no sugar content (64%) in importance, showing that sensory satisfaction remains critical to success.

Health concerns also play a central role. Sugar content becomes increasingly important with age: 72% of those aged 50-67 consider low or no sugar important, versus just 53% of 18-30s. Meanwhile, 34% of younger consumers are indifferent to sugar levels, suggesting that functional benefit still outweighs dietary concerns for this group.

Another key factor is trust. Consumers want proof that functional claims hold up. Across all US respondents, 73% say clinical research backing is important, rising to 78% among regular consumers. The middle age group is especially science-driven, with 36% rating clinical evidence as “very important.” For brands, substantiating claims with research could significantly improve trial and loyalty.

Price and sustainability: still in the picture

Price is the second most important factor after taste, with 82% of US consumers citing it as important or very important. Even regular buyers, despite their higher engagement, remain price-conscious: 83% say cost influences their purchase decisions. This indicates a strong need for perceived value, even in premium-positioned products.

Sustainability, on the other hand, lags behind. Only 56% of respondents rate eco-consciousness as important, and nearly a third are neutral on the topic. Among frequent buyers, interest in sustainability rises slightly to 64%, but it still trails far behind other considerations like taste, function, and price. Notably, the 31-49 age group is the most eco-conscious, while older consumers (50-67) are the least concerned about environmental factors.

The takeaway? Functional beverage brands in the US must deliver on energy and taste, support claims with science, and remain competitively priced. While sustainability isn’t a leading driver yet, it may be a useful differentiator for targeting specific consumer segments.

2025 US Spending Trends Report

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UK results

Strong demand across the board

Functional beverages are firmly embedded in UK shopping habits. A hefty 85% of UK respondents say they purchase these drinks at least occasionally, with 21% doing so ‘very often’ and 34% ‘often’. Younger consumers are the category’s power users: 67% of 18-30 year olds consume functional beverages frequently, compared to just 36% of those aged 50-67 [view UK survey dashboard].

Energy is the leading functional benefit, chosen by 56% of all UK consumers and 60% of regular buyers. It’s especially popular with the youngest age group, where 66% cite it as their top functional need. Older consumers (50-67) prioritise digestive health (44%) and immune support (38%) more than energy (48%), highlighting an opportunity for brands to tailor benefit-led messaging by age group.

Gender splits also emerge: men lean towards energy and sports performance (38%), while women favour beauty and body support (24%) and immune support (40%). Overall, functional beverages are viewed as something that can play a role in a healthy lifestyle, with most UK consumers interested in obtaining benefits from their drinks.

Flavour-first, but health-conscious

UK consumers may be looking for benefits, but taste remains their primary motivator. A massive 92% say taste is important or very important, and more than half (51%) rate it as “very important”. Among regular consumers, this figure rises to 97%, showing just how vital palatability is to product success.

Price is the next most important factor, with 86% of all respondents rating it as important. However, the link between value and health is clear: 75% of UK consumers prioritise low/no sugar options, and 83% of frequent buyers say sugar content plays a key role in their decision-making.

Scientific validation also matters. 81% of all UK consumers want to see clinical backing for functional claims, and this rises to 84% among regular drinkers. Millennial and younger Gen X consumers are especially motivated by research, with 36% of 31-49 year olds saying it’s “very important.” This mirrors US trends and points to a growing desire for evidence-led products in the UK market.

Innovation welcomed, sustainability secondary

UK consumers are open to trying new products, especially younger ones. An impressive 86% of 18-30 year olds say they are likely or very likely to try new functional drinks, compared to just 69% of those aged 50-67. Among frequent buyers, 93% say they would try something new if it offered a functional benefit they want. This appetite for innovation signals clear opportunities for brands to expand product ranges or experiment with novel ingredients.

Yet, as with US consumers, sustainability trails other concerns. Only 60% of UK respondents consider eco-consciousness important, making it the least valued of all purchase factors. However, interest is higher among regular buyers of functional beverages: 70% rate sustainability as important, while 21% are neutral and 9% say it doesn’t matter. Younger consumers are the most sustainability-minded, while older shoppers remain the most disengaged on this front.

For UK brands, the formula for success involves energy-led innovation, clean ingredient lists, competitive pricing, and exceptional taste. Sustainability may still be a secondary concern, but for certain segments, it can offer an added edge.

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What this means for drinks brands

While energy remains the most in-demand functional attribute, this research shows there’s growing interest in benefits tied to digestive, immune, and cognitive health. This offers plenty of scope for innovation, but brands that lead with benefits must also back them with science. Consumers increasingly see clinical evidence as essential.

Taste is non-negotiable. Even the most beneficial beverage will fall flat if the flavor doesn’t appeal. Product development must therefore prioritise palatability alongside performance. Pricing, too, remains a sensitive area. While many functional drinks carry a premium, consumers still expect value. Clear communication of benefits and product quality can help justify higher price points.

It’s also important to remember that different age groups want different things. Younger consumers are more adventurous and open to new products, while older consumers are more discerning and driven by specific health outcomes, so brands should segment their marketing and product lines accordingly.

The post Fueled up: how energy became the must-have benefit in functional beverages appeared first on Attest.

In a recent survey conducted using the Attest platform, we asked 2,000 US and UK adults how well informed they felt about savings products, and then put their knowledge to the test. The results reveal a significant gap between consumers’ perceived understanding, and their actual knowledge of savings products.  

This knowledge gap is an opportunity for finserve brands to educate consumers about things like tax advantages, savings limits, interest rates, and returns. A better understanding could lead to a higher uptake of savings products, especially the lesser-known ones. 

Quick summary

• 50% of US consumers and 54.5% of UK consumers believe they are well informed about savings products.
• Most cannot identify the best and worst products for returns.
• 5 in 10 Americans and 4 in 10 Brits can’t correctly calculate interest.
• Only 35% of Brits know the annual £20,000 savings limit for ISAs.
• Consumers in both markets are most likely to have a traditional savings account, despite offering the lowest interest rates.

US results

Most Americans are familiar with traditional savings – but few go beyond

The first thing the data highlights is a big discrepancy between awareness of savings products and likelihood to be using them. Traditional savings accounts were the most recognised among US respondents (77%), while Certificate of Deposit (CD) and High Yield Savings Accounts (HYSA) also both enjoy relatively good awareness (61% and 54% respectively).

Just over half of the respondents were aware of Money Market Accounts (MMA), but awareness dropped off for bonds. Only 38% had heard of Series E or I U.S. savings bonds, while 45% had heard of municipal bonds. Cash management accounts had the lowest awareness, at 34% [view US results dashboard].

When it comes to the actual uptake of savings products among US consumers, the figures are significantly lower. Behind the traditional savings account, which 66% of Americans have, less than a quarter have a HYSA or CD. Only around 16% have an MMA or a cash management account, and around 11% have bonds. This suggests that barriers to entry – whether logistical, educational or behavioral – remain significant.

Consumers (wrongly) consider themselves well informed about savings products

One challenge finserve brands may face in educating consumers about savings products is that they already consider themselves pretty well informed. Overall, 50% of consumers said they are well informed about what’s available to them to help grow their money (although only 15% said they are “very well informed”). 

Less than a quarter of respondents said they were poorly informed on savings products, but 27% did admit to being somewhere in the middle when it comes to their knowledge.

Despite this self-confidence, when we asked respondents to identify the savings products with the highest and lowest Annual Percentage Yield (APY), a lack of understanding became apparent. For example, only 21.5% identified Certificate of Deposits as offering a high APY when, in reality, they yield some of the highest fixed rates, typically in the 4.5%–5% APY range.

Meanwhile, although half of respondents correctly identified traditional savings accounts as offering the lowest APY, 13% thought they provided the highest. Only 13% thought municipal bonds offered a high rate of return, however, top-rated 30-year municipal bonds are yielding about 4.56%, and are tax-exempt federally making a tax-equivalent yield above 7% possible. 

Confusion around how interest rates work

A lack of numeracy skills among the American public may explain the continued reliance on low-interest savings accounts. Many big-name banks offer virtually no interest – for instance, Bank of America’s Advantage Savings account pays just 0.01% APY, but but basic savings accounts remain the most popular savings vehicle. 

Our data shows the problem is that many people simply don’t understand how interest rates work. When we asked them to calculate how much interest they would earn in a year if they deposited $1,000 at a fixed annual interest rate of 3%, just over half correctly answered $30. 

Nearly 16% of respondents said $300, while around 9% answered $3 and $33. Only 15% admitted they didn’t know how to calculate interest. These results should serve as a reminder to finserve brands that financial literacy isn’t just about access to information, but the ability to apply it.

2025 US Spending Trends Report

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UK results

Ownership of savings products lags behind awareness

British consumers have reasonably high awareness of the different savings products on the market but when it comes to actual ownership, the figures are much lower. For example, while 75% of respondents had heard of a Cash ISA (making it the product with the highest overall awareness), a lesser 47% of people have one [view UK results dashboard]. 

Likewise, 60% of the respondents had heard of Premium Bonds (NS&I), yet only 24% have them. And while 55% are aware of Lifetime ISAs (LISAs), a tiny 13.5% of consumers use them. This suggests that while awareness of financial tools may be pretty high, finserve brands need to do more to translate that knowledge into action.

Meanwhile, there’s an opportunity to promote products that are less well known among UK consumers, including the Help to Save account for people receiving Universal Credit or Working Tax Credit (recognised by 33%), and the Innovative Finance ISA, which allows people to invest in peer-to-peer lending or crowdfunding debt-based investments (17%). 

Both of these products have a small uptake (12% and 8% respectively), showing large scope for growth – especially the Help to Save account. Following a change in eligibility criteria introduced in April 2025, approximately 3 million people are now eligible to open a Help to Save account.

Awareness doesn’t equal understanding

Our research shows that while a large percentage of consumers have heard of various types of ISAs,  knowledge about them is much lower. Only 35% of Brits could correctly identify the annual £20,000 savings limit for ISAs.

While 30% of respondents admitted they didn’t know how much they could save into an ISA each year, 15% incorrectly answered £9,000, 11% thought it was £15,000, 6% said £18,000, and 5% answered £24,000, highlighting the scale of the confusion. 

This is despite recent media coverage of Chancellor Rachel Reeves’ proposal to lower the annual Cash ISA limit to £4,000-£5,000. Her aim is to encourage a shift toward Stocks & Shares ISAs, but our data suggests the government will need to launch a higher profile education campaign to achieve the goal.

Although 68% of respondents in our survey were aware of Stocks and Shares ISAs, only 30% have one. This suggests they are unaware that Stocks and Shares ISAs can offer much higher returns than Cash ISAs. According to the Guardian, investing £10,000 in a FTSE All-Share tracker over ten years could grow to nearly £18,000, versus around £11,500 in a Cash ISA. 

4 in 10 Brits failed a basic interest rate calculation

Core to any education campaign should be explaining how interest rates are calculated, since Attest’s data uncovered a notable lack of understanding. We asked respondents to calculate how much they would earn if they invested £1,000 at a 3% annual interest rate. 

While the correct answer – £30 – was selected by 62% of people, 14% thought it was £300, 8% said £33, and 6% answered £3. A further 10% said they didn’t know. These responses suggest that understanding of even basic financial maths remains limited among a significant proportion of the population.

The inability to calculate interest rate is no doubt contributing to confusion among UK consumers about which financial products offer the best returns. Only 10% of Brits think Regular Saver Accounts/Building Society Monthly Savers provide high interest, yet these accounts offer some of the best fixed returns – up to 7.5% AER for limited monthly deposits.

Similarly, only 13% of respondents think NS&I fixed-rate bonds are among the best products for returns, but these provide a solid 4.18% AER (slightly below the top market rates but government-backed for security). Despite these clear misconceptions, 54.5% of consumers believe they are well informed about savings products (only 20% think they are poorly informed).

Meanwhile, although people are most likely to rate traditional savings accounts as offering the lowest rate of return, it remains the savings product they’re most likely to own (55%). With traditional easy‑access savings account AER currently standing at around 2.3%, millions of savers stand to benefit by moving to a different savings vehicle. 

2025 UK Spending Trends Report

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What this means for financial services brands

In both the UK and the US, financial services brands face a common challenge: bridging the gap between recognition and informed usage.

Consumers know the names of products, but often struggle to compare them or calculate returns. Messaging that focuses on rates or technical features may miss the mark if people don’t understand the fundamentals.

Brands that position themselves as educators and simplifiers, breaking down the what, why and how of savings, stand to drive adoption.

The post The savings knowledge gap – and how finserve brands can help close it appeared first on Attest.

Growth in the RTD category has far outstripped others, with UK canned alcoholic beverages expected to hit $1,365 million by 2030, at an exceptional CAGR of 36%, and US RTD cocktails and canned spirits rising 16.5% in value to reach US $3.3 billion in 2024, becoming the second-largest spirit category by volume. 

To learn more about who is driving the growth in RTD, we carried out a nationally representative survey of 2,000 consumers in the UK and US*. The research digs into who is buying pre-mixed alcoholic beverages, where they are being consumed, how often, and what makes them attractive to consumers. See the full survey dashboard. 

*a total of 3754 respondents were recruited for the survey in order to qualify 1,000 RTD buyers in each market

Quick summary

• 41% of UK consumers and 27% of US consumers shop in the ready-to-drink category.
• Cocktails are by far the most popular type of beverage.
• Consumers aged 30-49, and those with a higher household income, are the biggest buyers of RTDs.
• RTDs are typically consumed once or twice a week, and overwhelmingly at home.
• Health isn’t a major driver for shoppers, who are focused on taste, and show little interest in low alcohol varieties.

UK results

Millennials are the leading RTD consumers

How popular are ready-to-drink beverages among UK consumers? While 77% of British consumers say they purchase carbonated drinks, 41% say they buy pre-mixed alcoholic beverages – a relatively high figure, although less than the 58% who purchase yoghurt drinks/milkshakes, the 54% who buy energy drinks, and 50% who buy prepared coffee drinks. But it does exceed the 31% of survey respondents who purchase in the ginger beer/ginger ale category. 

Looking at the age breakdown of RTD buyers, it’s led by consumers aged 31-49 (49% of Brits in this age group purchase them), followed by 18-30-year-olds (41%), and 50-67-year-olds (34%). And in terms of gender split, women are slightly more likely to buy pre-mixed alcoholic beverages than men (45% versus 38%). 

Notably, ready-to-drink consumers are also heavy purchasers of other packaged drinks, particularly yoghurt drinks/milkshakes (74%), and prepared coffee (69%), suggesting opportunities for cross-category marketing or collaborations.

RTDs consumed once or twice a week

While consumers aged 31-49 are the most likely to purchase pre-mixed alcoholic beverages, when it comes to consumption frequency, they’re on a par with their younger counterparts. We asked self-reported RTD consumers how often they drink them, with around 37% of both age groups saying they drink them once or twice a week, and around 20% drinking them more often. 

Overall, among those who consume pre-mixed alcoholic beverages, 51% do so at least weekly, and only 8% consume these beverages less than once a month, suggesting these are regular consumption items rather than occasional treats.

Brits aged 50-67 are the lowest consumers. They’re most likely to say they drink pre-mixed alcoholic beverages a few times a month (37%), with only 29% drinking them once or twice a week, and 10% more than twice a week. And despite women’s higher preference for RTDs, men are more frequent RTD consumers: 20% of men drink them more than twice a week, in comparison to 13% of women. 

Income level also has a bearing on frequency of consumption, with around a third of respondents with a household income in excess of £75k drinking pre-mixed alcoholic beverages more than twice a week, compared with 13% of those earning less than £35k. 

It’s curious that the ready-to-drink category has boomed during the cost of living crisis – with shoppers ostensibly willing to pay more for the convenience of having their drinks mixed for them. This might be down to RTDs being viewed as an affordable luxury – a small indulgence, permissible even during financial strain (it’s a theory that warrants further research).  

Pre-mixed cocktails dominate the market

Cocktails are the number one most popular type of ready-to-drink, consumed by 77% of the survey respondents, followed by long drinks and alcopops (both around 58%). Newer innovations like hard seltzers (26%), hard coffee (20%), and hard tea/kombuchas (around 13% each) have gained notable market share despite being relatively recent entrants.

Looking at gender preferences, women over-index for choosing cocktails and wine-based drinks, while men over-index for consuming long drinks and hard seltzers. Age also influences preference, with Brits aged 18-30 more likely than others to favour cocktails, alcopops and wine spritzers, and those aged 31-49 being the demographic most likely to choose long drinks, hard seltzers and hard coffee.   

Home consumption is overwhelmingly the most common setting for pre-mixed alcoholic beverages (81%), highlighting their role in the “at-home drinking” occasion. A much lower – although still significant – 44% say they order RTDs when out at pubs and bars, and 22% buy them in clubs. This is not necessarily reflective of a preference for conventional drinks when attending venues, rather that many consumers don’t frequently visit such venues.

Under 30s are significantly more likely than other age groups to purchase RTDs on-trade  – presumably because they go out on the town more. Consumers aged 31-49, on the other hand, over-index for consuming pre-mixed alcoholic beverages at barbecues and picnics (50%).

Brands shouldn’t overlook the consumption of RTDs on-the-go, which is actually higher than in restaurants (29% versus 27%), with under 30s being the most likely age group to consume them while mobile (39%). Gaining a better understanding of these consumption patterns (i.e. on the train, lunch break) could prove valuable. 

It’s all about flavour

Flavour is the primary purchase driver for RTDs, with exciting flavours/blends (53%) slightly outperforming classic flavours/blends (48%), indicating consumer interest in both innovation and tradition.

Premium quality (47%) ranks higher than low price (40%), suggesting consumers value quality over cost savings in this category, although only 32% of consumers say they look for top alcohol brands when choosing pre-mixed alcoholic beverages. This might mean there is more scope for new players to enter the category. 

One thing the data shows is that the growth of RTD in the UK isn’t driven by health conscious consumers – only 12% of Brits are looking for low alcohol drinks, 22% want low sugar/calorie drinks, and 12% desire functional ingredients such as probiotics. In fact, 27% are specifically looking for a high alcohol content. 

Convenience is important, with 32% of consumers concerned about portability. In terms of packaging priorities, Brits are more likely to want it to be attractive (25%) than eco-friendly (19%), but if brands can find a way to fulfill all three objectives it will be a win-win. 

Splitting the data by age throws up a few interesting titbits: older consumers have a higher preference for classic flavours than younger ones. Meanwhile, under 30s are likely to look for a low price, while 31-49-year-olds are more focused on quality. Brits aged 18-30 also over-index for seeking out high ABV varieties. 

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US results

Millennials are the biggest purchasers of RTDs

How popular are ready-to-drink (RTD) alcoholic beverages among US consumers? Nearly 27% of Americans say they buy them – a meaningful share, though still behind energy drinks (51%), ready-to-drink coffee (47%), yogurt drinks/milkshakes (38%), and ginger beer/ginger ale (35%).

Ready-to-drink purchases are highest among consumers aged 31-49 (32%), followed by 21-30-year-olds (29%) and 50-67-year-olds (23%). However, men and women are equally likely to buy pre-mixed alcoholic beverages.

RTD consumers tend to be heavy buyers of other packaged drinks: 71% purchase energy drinks and 70% buy ready-to-drink coffee, showing clear potential for cross-category marketing and collaborations.

A regular habit: over 60% consume RTDs weekly

While RTDs may not top overall beverage purchases, their consumption frequency is high: just over 60% of RTD buyers drink them at least weekly, and only 6% consume them less than once a month, showing that RTDs are often part of a regular routine.

Consumers aged 31-49 are the most frequent users: 37% drink RTDs more than twice a week, compared to 25% of 21-30-year-olds and 19% of 50-67-year-olds. Younger adults (21-30) are more likely to consume RTDs once or twice a week (36%), while older adults lean toward a few times a month (33%).

Men and women purchase RTDs at similar rates, but men drink them more frequently: 35% of men have pre-mixed alcoholic beverages more than twice a week versus 21% of women. Income also matters: 38% of respondents with household incomes over $100k drink RTDs more than twice a week, compared with 22% of those earning under $50k.

RTDs are booming during a period of high inflation, suggesting they’re seen as an affordable luxury: a small indulgence consumers are willing to keep, even under financial pressure, which might be a trend worth exploring further.

RTDs are most commonly consumed at home 

Home is the top setting for enjoying pre-mixed alcoholic beverages, with 88% of respondents consuming RTDs at home. However, 44% enjoy them at restaurants, 36% in bars or pubs, and 25% in clubs – showing a presence in on-trade occasions, even if venue visits are less frequent.

Younger consumers are more likely than those over 50 to drink RTDs in bars and clubs – no doubt a reflection of more frequent social outings. Around 25% of ready-to-drink consumers enjoy them on-the-go, rising to 32% for those aged 31-49 – an opportunity for brands to explore consumption in transit.

Cocktails dominate the format, consumed by 68% of respondents. They’re followed by hard seltzers (60%), wine spritzers/coolers (54%), and hard tea (52%). Even newer formats like hard coffee (22%) and hard kombucha (16%) have found a foothold.

Women over-index for cocktails and wine-based drinks, while men favor long drinks, hard tea, and hard seltzers. Age plays a role too: 21-30-year-olds lean toward hard seltzers, while 31-49-year-olds over-index for cocktails, long drinks, hard tea, and kombucha.

Flavor, not health, is the main driver

Flavor wins: 56% of consumers say exciting blends influence their purchase, slightly ahead of classic flavors (45%), showing demand for both innovation and familiarity.

Premium quality matters more than price: 44% prioritize quality over 38% who say low price is key. Yet only 31% specifically look for named alcohol brands, which suggests room for challenger brands.

Despite wellness trends, health isn’t a major driver here. Just 11% look for low-alcohol options, 25% want low sugar/calorie drinks, and 15% seek functional benefits like probiotics. Meanwhile, 39% specifically look for high alcohol content.

Portability also matters: 35% cite convenience as a purchase factor, while 24% want attractive packaging, and only 14% prioritize eco-friendly design – brands that can nail all three will have a competitive edge.

Finally, age reveals differences: older consumers lean toward classic flavors, under-30s are more price-driven, while 31-49-year-olds prioritize quality. The youngest consumers also over-index for high-ABV varieties. 

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The post Defying the decline: what’s driving growth in ready-to-drink alcohol? appeared first on Attest.

In 2024, US spirits sales saw a 0.9% decline in volume, wine sales dropped by 8%, and beer sales decreased by 0.6% [source: WSWA]. It’s a similar story in the UK, where analysts expected to see alcohol volume and value declines of 1% CAGR over the next five years [Source: IWSR].

Our own research shows that 42% of UK consumers and 31% of US consumers have cut back on alcohol purchases to help manage the cost of living. For the survey, we qualified-in those respondents who said they had scaled back on booze to find out how much they’re spending now, how else they’re economizing in the category, and how committed they are to their alcohol purchases [view the survey dashboard].

Quick summary

• 54% of Brits and 44% of Americans are going out less often to save money.
• More than a third of consumers in both markets have started consuming alcohol at home instead of going out.  
• Around half of consumers are drinking less often to cut back on spending.
• 24% of Americans and 12% of Brits have given up alcohol completely to help manage the cost of living.
• A quarter of shoppers are buying cheaper alcohol brands.

UK results

More than a third of over 50s no longer buy alcohol at venues

Bad news for operators of bars, pubs, clubs and restaurants: 54% of Brits say they are going out less frequently. Consequently, they’re now more likely to buy alcohol for home consumption than go drinking in venues. 

A significant 23% of those who have scaled back their spending on alcohol typically spend nothing on buying drinks when going out, while 23% spend just £1-£19 per month (which won’t go far unless you’re in Wetherspoons). A further 23% spend £20-£39, while the percentage spending in excess of £40 stands at 31%.

Older Brits are significantly more likely to have stopped buying alcoholic drinks on-trade: 36% of over 50s spend nothing, in comparison to 14% of 18-30s and 20% of those aged 31-49 (although it’s consumers in the 31-49 age bracket who are most likely to have reduced their attendance at bars and restaurants: 60% are going out less). 

There’s a clear gender divide too: 27% of female consumers have curbed their spending on drinks in venues to zero versus 19% of men. On the other hand, 36% of men are committed to still getting the drinks in, spending over £40 per month, versus 26% of women. 

Brits typically spend less than £20 per month on alcohol at home

Despite drinking at home being the new going out, Brits aren’t spending huge amounts on it. The majority spend less than £20 per month on off-trade alcohol. Just over 38% spend between £1-19 per month, while 11% typically spend nothing. But a quarter spend between £20-£39, and 26% spend in excess of this amount. 

Consumers aged 31-49 are the most likely to say they have swapped going out for drinking at home (39%), and this is reflected in their higher spending compared to other demographics: 30% spend in excess of £40 per month on home drinking. Consumers aged 50-65 spend the least: 43% spend less than £20 and 12% make no outlay at all, while only 16% spend in excess of £40. 

Interestingly, women are more likely to say they have started drinking at home instead of going out (37% versus 33% of men), yet men still spend more on alcohol for home consumption (25% spend in excess of £40 per month versus 20% of women).  

Is Alcohol an industry in overall decline?

One of the core themes of this research is that drinking is becoming less important for Brits – a trend that clearly has big implications for alcohol brands. Half of the respondents in our survey say they’re “generally drinking alcohol less frequently” in order to save money, and 46% say that buying alcohol is a low priority (12% have given up drinking altogether). 

This sentiment is highest among older, more seasoned drinkers, with 55% of over 50s deeming alcohol a low priority, and the same percentage having reduced their consumption. Young Brits aged 18-30 are more committed to drinking, being most likely to rate buying alcohol a high or medium-high priority: 21% (versus 10% of 31-49 year olds and 8% of over 50s).

But despite this ray of light, younger drinkers are taking other measures to manage their spending on alcohol – all with possible drawbacks for drinks brands. Just over 27% say they have started drinking cheaper alcohol brands, while 25% are drinking cheaper types of alcohol, for example switching spirits for beer. And on-trade will be affected by the 28% who are purchasing smaller measures, and 33% who put a limit on the amount of drinks they buy on a night out. Under 30s also over-index for buying soft drinks instead of alcohol (38%). 

One quirk of this demographic is that they’re not the most motivated by promotions on alcohol: 23% look out for them versus a third of their older counterparts, so keeping RRPs down will be more important than deep discounting. 

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US results

A third of Americans no longer spend on-trade

Operators of bars, pubs, clubs, and restaurants face a challenge as 44% of Americans report going out less often. This shift means consumers are now more inclined to purchase alcohol for home consumption rather than drinking at venues.

Avoiding alcohol when visiting hospitality venues appears to be a key way of cutting back, with nearly a third of respondents making no outlay on it. Of those still enjoying a drink when out, 30% spend less than $40 per month, a further 14% spend between $40-$59, while a total of 24% spend in excess of $60.

Older Americans are significantly more likely to have stopped buying alcoholic drinks on-trade: 45% of 50-67 year olds spend nothing in comparison to 26% of their younger counterparts. 

Consumers in the 31-49 age bracket are the highest on-trade spenders, with 31% spending in excess of $60 per month in comparison to 24% of 18-30 year olds and 16% of over 50s.

Drinking at home trend boosting off-trade sales

A third of American consumers say they have swapped going out for drinking at home, so how much are they typically spending off-trade? It’s fairly evenly distributed, with around 20% in each of the first three spending brackets ($1-$19, $20-$39, $40-$59) but spending in excess of $60 per month is less common. 

Meanwhile, 17% of respondents say they now don’t make any expenditure on alcohol for home consumption. Those aged 50-67 over-index for saying this: 25%, compared to around 15% of their younger counterparts. 

As well as being the highest on-trade spenders, consumers aged 31-49 are also the biggest off-trade spenders: 33% spend in excess of $60 per month on home drinking. Only 20% of under 30s spend this much, and 16% of over 50s. 

And while men and women are equally likely to say they have started drinking at home more instead of going out, men are higher spenders on alcohol for home consumption (30% spend in excess of $60 per month versus 19% of women).   

Millennials at the vanguard of alcohol changes

This research points to one thing – drinking culture is on the decline in America. Just under half of the respondents in our survey say they’re “generally drinking alcohol less frequently”, while a significant 24% have given up drinking altogether. Critically, 47% say that buying alcohol is a low priority (12% ). 

One segment in particular stands out for having changed their behavior in relation to alcohol, and that’s consumers aged 31-49. While they remain the biggest spenders overall, they’re most likely to say they’re drinking alcohol less often to save money (50%), and they over-index for employing money-saving tactics.

To manage costs when visiting bars, clubs and restaurants, 31% are limiting the number of drinks they purchase, while 28% are buying smaller measures. This age group is also most likely to opt for soft drinks instead of alcoholic beverages when out (27%). Additionally, over 27% have switched to cheaper alcohol brands, and 22% are choosing less expensive types of alcohol, such as beer instead of spirits.

Despite this, consumers aged 31-49 remain the most committed to drinking, being most likely to rate buying alcohol a high or medium-high priority: 25% (versus 17% of under 30s and 11% of over 50s). 

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But recent headlines reporting declines in sales (US McDonald’s outlets that have been open at least a year sank 3.6% in the first three months of 2025 compared to a year earlier) and our fresh consumer survey suggests the brand is slipping with its core audience.

We surveyed 1,000 U.S. consumers to dig into how they feel about McDonald’s today, and what changes would reignite their loyalty. The insights are clear, candid, and a wake-up call.

TL;DR summary of McDonald’s shopper survey

• 1 in 3 Americans are visiting McDonald’s less often, citing price, quality and nostalgia.
• “Too expensive” was the most common complaint — with many saying they get better value elsewhere.
• Inconsistent food quality and a loss of iconic menu items have hurt the brand’s appeal.
• 75% of respondents said value deals influence their decision to visit.
• Health trends and GLP-1 usage are shifting fast food habits — over 80% of users say they’ve cut back.
• Consumers still want to love McDonald’s — but they expect more consistency, value and care.

McDonald’s shopper survey results

The decline is real: one in three visit less often

When asked how their McDonald’s visit frequency has changed over the last six months:

• 32% are visiting less often — with 19% saying much less
• 34% are visiting more often
• The rest (30%) said their habits haven’t changed

This isn’t an exodus, but it’s enough of a shift to dent revenue- especially with higher input costs and tighter consumer wallets.

What’s behind the drop? Consumers say it’s not just the food

We gave respondents the chance to answer openly about what’s turned them off. Their answers paint a vivid picture of shifting expectations — and where McDonald’s may be missing the mark.

1. “It’s too expensive now”

Value was once McDonald’s cornerstone. Today, it’s the most common complaint.

“$15 for a meal? I can sit down and eat somewhere better.”

Consumers repeatedly mentioned that prices have outpaced what they’re getting in return. With inflation still biting, customers expect more from every dollar.

2. “Quality and consistency are lacking”

This wasn’t just about taste — though that came up a lot. Respondents to our survey noted:

• Lukewarm or messy orders
• Burgers that feel smaller or “thrown together”
• Inconsistency across locations
• “The quality isn’t there anymore — and you never know what you’re going to get.”

It’s not that McDonald’s food has radically changed. It’s that in a world full of upgraded fast-casual options, bland and inconsistent just doesn’t cut it.

3. “I miss the old McDonald’s”

Nostalgia was an unexpected — but strong — theme. From the McRib to 2-for-1 deals, many respondents brought up beloved past offerings they wish would return.

• “Bring back the fajitas and the dollar menu!”

This speaks to an emotional connection consumers had with the brand — one that’s faded in recent years. McDonald’s is already addressing one aspect of this, by bringing back the Chicken Snack Wrap as a permanent addition to the menu. 

Using Attest’s AI Summary tool, here’s a concise readout of these insightful open-text responses:

What would win them back?

Bring back value

With rising inflation and continued economic uncertainty, consumers want to feel like their money stretches further. 

• A whopping 75% of consumers said that value or promotional deals are important in their choice to visit McDonald’s. 
• Of those surveyed, over half are reporting that their household’s disposable income is influencing their decision whether or not to eat out at fast food restaurants. 

Focus on quality and care

Of those visiting McDonald’s less frequently, 43% cited a desire for healthier meals as a key reason. As GLP-1 weight-loss medications like Ozempic and Wegovy become more mainstream, this trend is only accelerating. Among the 20% of respondents who either take these medications or live with someone who does, over 80% have cut back on fast food visits.

This presents a clear opportunity: McDonald’s can better serve this growing health-conscious segment by offering lower-calorie, high-protein, nutrient-dense menu items tailored to GLP-1 users’ changing appetites and goals. Introducing thoughtfully crafted meals with lean proteins, fiber-rich sides, and clean ingredients could position the brand as both convenient and compatible with modern health journeys.

Innovate around nostalgia

Ironically, one of McDonald’s best paths forward may be behind them. Reintroducing iconic items (even in limited runs) or celebrating classic menu moments could rekindle that connection.

Consumer sentiment in a snapshot:

Final thoughts

The data tells a simple but urgent story. Consumers still want to love McDonald’s — but the experience isn’t matching up to the price or the memory. 

The good news? This isn’t a brand with a loyalty problem — over half of respondents reflect no change in the perception of McDonald’s brand image, despite the drop in sales. It’s a brand with a value and consistency problem — and those are fixable. If McDonald’s can realign with what made it iconic while innovating to meet modern tastes, it may not just rebound — it could reignite.

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The post Why McDonald’s is losing ground and what consumers say will bring them back appeared first on Attest.

Across both the US and UK, affordability, a lack of knowledge and fears of government cutbacks are keeping people from feeling secure about their future.

Our latest research digs into what people really want from their pensions, what’s stopping them from saving and what they dream about for their retirement. 

From inflation and performance concerns to the desire for personalised advice, these insights can help pension providers and their insights teams understand how to better connect with today’s cautious but hopeful savers.

Quick pension insights summary

Here’s a TL;DR rundown of the key findings from our research:

• In the US, 27% don’t have a pension at all; 41% have a workplace pension, 30% rely on Social Security and 21% have a private pension
• 43% of Americans worry most about inflation eroding their pension; 39% fear outliving their savings
• 50% of Americans would consider switching pension providers for better investment performance; 85% say personalised advice is important
• In the UK, only 34% expect to rely on the state pension despite 80% qualifying for it; 51% have a workplace pension
• 49% of Brits are most worried about state pension cutbacks; 48% fear inflation
• 42% of Brits would switch providers for better performance; 89% want personalised pension advice

US pension insights

A quarter of Americans don’t have a pension

Our research found that 27% of respondents in the US don’t have any pension. There are of course several reasons for this – low or irregular income, immigration status or lack of awareness being some. 

Meanwhile, 30% said they do have Social Security, and 41% said they have a workplace pension arranged through their employer, with 14.5% also having a defined benefit/final salary pension. A further 21% have a private pension they arranged themselves. 

Inflation is people’s main pension concern

A sizable 43% of Americans told us they’re most worried about inflation eroding the value of their pension – and this percentage is fairly consistent across the age groups. 

Outliving savings came second overall – 39% chose this. Interestingly we see a particular spike for the 45–54 age group, with 47% stating this as a top key concern. This compares with just 32% of people aged 55–64.

Government/state pension cutbacks was chosen by 35% of our US respondents, with 30% choosing market volatility. And not getting enough advice was chosen by just 16% overall – but we see this rise significantly in the younger groups, with 27% of 18–24s and 23% of 25–34s worried about a lack of guidance.

Performance, lower fees and more flexibility are switching drivers

When asked what might make people think about changing their private or workplace pension provider, the outcome was:

• Better investment performance – 50%
• Lower fees – 38%
• More flexible retirement income options – 38%
• Better pensions guidance and advice – 28%
• Easier online management – 24%
• Better visibility on pension’s progress – 22%
• Easy switching process – 18%
• Better customer service – 17%
• Ethical/sustainable investment choices – 16%

And it seems that personalized pension advice or guidance should be a no-brainer for providers in 2025. A huge 85% of respondents told us it’s important to them, with just 13% saying it’s not important.

Affordability and knowledge are top reasons people don’t have private pensions

A third of our US respondents told us that one of the main reasons they don’t currently have a private or workplace pension is that they can’t afford to save right now. We see this percentage rise to 36% for people aged 25–34 and to 38% for those aged 35–44. 

The second highest overall response was that people don’t know enough about pensions to set one up – 20.5% of the US population said this. We see a sizable uptick for the youngest group, with 36.5% of people aged 18–24 saying this, showing that education among even this youngest group is a key driver to get people saving.

Family time, new hobbies and traveling are top of the retirement wish list

Across all age groups, our research shows that people’s number one goal for retirement is to spend more time with their family. Almost three in five (59%) chose this. 

Taking up hobbies came second overall, with over half (51%) planning this. Traveling came a close third with 50% hoping to jet off when they retire.

And thinking about their main financial goal for retirement, covering basic living expenses is at the top – 41% will prioritize this. 35% want to maintain their current lifestyle, while 12% are focused on leaving an inheritance – a percentage that drops to 4% for people aged 45–54. 

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UK pension insights

Only a third of Brits expect to rely on their state pension

We asked our UK respondents which types of pension they have. Surprisingly only a third (34%) actively chose the state pension – particularly surprising when 80% of people who reach pension age will receive the full state pension. This shows that there’s potentially a lot of education the government and financial institutions can do to help people understand what they’re entitled to. 

A larger 51% of the population told us they currently have a workplace pension, with a further 28% saying they have a private pension they arranged themselves. 

Government cutbacks worry pension-holders the most

Almost half of our respondents (49%) told us what worries them the most about their pension is state pension cutbacks from the government. This percentage rises with each successive age group, with 59.5% of people aged 55–64 choosing this option. 

Inflation is also a big worry, with 48% of people overall choosing this as a concern. A further 36% are concerned about outliving their savings, with 30% stating market volatility as a worry. 

Pension-switching Brits want better investment performance

More than two fifths (42%) of our UK respondents said that better investment performance would make them think about changing their private or workplace pension provider – more than any other option:

• Better investment performance – 42%
• Lower fees – 34.5%
• More flexible retirement income options – 33%
• Better visibility on pension’s progress – 31%
• Better pensions guidance and advice – 30%
• Easy switching process – 28%
• Easier online management – 23%
• Better customer service – 18%
• Ethical/sustainable investment choices – 15%

Nine in 10 people want personalized advice

Among our UK respondents, a sizable 89% think personalized pension advice and guidance is important. 

There’s a particular appetite for advice in one age group. Of people aged 25–34, a huge 97% said it’s important to them. This gives providers some direction on who to aim guidance towards to gain traction.

Overall, just 2% of Brits told us that pension advice and guidance wasn’t important to them.

Affordability is holding people back from private pensions

Among those who don’t have a private or workplace pension, 40% told us a main reason was that they can’t afford to save right now. 

Meanwhile 22% said they plan to start a pension in the future, but haven’t got around to it yet. And 14% said they simply don’t know enough about pensions to set one up – again showing the need for education on pensions and retirement planning. 

Family time is people’s top retirement goal

Three fifths (61%) of our UK respondents said they hope to spend more time with family when they retire. This interestingly drops slightly to 48% for people aged 45–54, and is highest for people aged 25–34, 73% of whom look forward to family time. 

Traveling came out as the second most popular retirement goal – 55% hope to jet off. And 54% told us they hope to take up some new hobbies. 

Thinking more financially, Brits’ top goal for retirement is to maintain their current lifestyle – 41% chose this. And a third (33%) want to simply cover their basic living costs. Meanwhile 15% are thinking predominantly about leaving an inheritance to their loved ones.

Don’t forget – you can dig into the data for yourself if you head over to our interactive dashboard.

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The post What pension savers aren’t telling you appeared first on Attest.

It’s no longer about hygiene, though. This trend is particularly noticeable in fast-casual restaurants, coffee shops, and retailers in transit locations (like train stations), where digital payments offer speed, convenience, and reduced security risks.

However, the shift away from cash has raised concerns about excluding unbanked or underbanked individuals, prompting calls for legislation to mandate cash acceptance. In the US, some cities and states – including New York City, San Francisco, Philadelphia, and New Jersey – have enacted laws requiring businesses to accept cash. In the UK, the government has not mandated cash acceptance, allowing businesses the discretion to choose their preferred payment methods.

To get consumers’ view on the importance of cash in society, and to find out how they typically use – or don’t use – it, we conducted a nationally representative survey of 1,200 people aged 18-67 in the UK and the US. 

Quick summary

• 23% of consumers in the UK and 30.5% in the US prefer to pay with cash given the option.
• Core reasons for preferring cash include it providing protection from fraud and being viewed as more reliable.
• 34% of Brits and 32% of Americans are against businesses that do not accept cash.
• 38% of UK consumers and 42% of US consumers would welcome a cashless society. 
• Card and device payments are most popular overall but more than half of people in both markets worry about the reliability of digital payments.

UK results

Cash has regained popularity

We last surveyed UK consumers about their use of cash in 2021. Back then, only 16% of the population preferred to pay for things with cash. Today, that figure has risen to 23%. This resurgence is seen across all age groups, with the biggest uplift recorded among the over 50s, 28% of whom prefer cash (a +10 point increase) [view UK dashboard].

The reasons that consumers favour cash have also shifted: in 2021, the main reason was that it helped people to avoid overspending (49%). While this is still a major motivator for using cash in 2025 (51%), consumers primarily like hard money because they view it as “more reliable” (55% up from 41%). They’re also more likely to favour it because it “protects them from fraud” (47% up from 39%). 

These views may be influenced by recent events including cyber attacks on UK high street stores like M&S and Co-op, as well as the power outages in Spain and Portugal that led to businesses being unable to accept digital payments. The data finds that 59% of people worry about power cuts or hacking attacks causing digital payments to fail.

More British consumers are carrying cash

Brits are more likely to have cash in their wallets in 2025: 23% say they always carry cash – which is an increase of +6 points since 2021 – and a further 27% of people usually have cash on them. The percentage of people who don’t like paying cash has also declined: 41% prefer not to carry out transactions using cash, compared with 54% previously. 

34% of British consumers are against cash-free businesses

So how do British consumers feel about businesses that don’t accept cash? Nearly 34% say they’re against cashless businesses, while 16% are in favour. But the majority (50%) are happy to leave it up to the business to decide. It’s worth noting, however, that opposition to cash-free businesses increases with age.

The amount of consumers who say they would welcome a cashless society has fallen by -5 points to 38%. Under 30s are the demographic most in favour of a world without cash: 26% strongly agree they would welcome it, versus 20% of 31-49-year-olds and just 8% of over 50s.  

Digital payments still rule 

Despite the resurgence in cash payments, the majority of UK consumers would opt to pay with either a card (50%) or device (26%). The popularity of device payments has increased by +8 points since 2021. They’re especially popular with the 18-30 age group, 40% of whom say it’s their favourite way to pay in-store. 

Of those who prefer to pay with a card or device, the main reason for doing so is convenience: 73% say they find it a more convenient payment option (up from 63% previously). That’s probably because 40% of those who favour digital payments tend not to carry cash, although this has declined from 47% in 2021.

 Today, only 6% of people who prefer digital payments regard cash as unhygienic – that’s compared to 18% immediately post-pandemic. 

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US results

Three in 10 Americans prefer cash

We don’t have historical data from the US to benchmark against, but today’s results show 30.5% of American consumers prefer to pay in cash if given the opportunity. This is a universal preference, with all age groups in agreement [view US dashboard].

However, different demographics have different reasons for favoring cash. Those aged 18-30 choose it because it prevents overspending (45%), while 31-49-year-olds believe cash is “more reliable” (54%), and over 50s think it provides protection from fraud (55%).

Interestingly, those aged 31-49 over-index for saying they get paid in cash: 24%, versus 13% of over under 30s and 10% of over 50s. Only 4% of Americans in our survey say they don’t have access to another means of payment, but 31% are attracted to cash because it means they don’t have to share their data. 

Going cashless might alienate older consumers

Younger Americans are more likely to be in favor of a cashless society than against it, but those aged 50-67 firmly oppose the US becoming a cash-free nation. Just over 50% say they wouldn’t welcome a cashless society (while only 30% would). That’s in comparison to 25% of under 30s and 28% of 31-49-year-olds who are actively against the idea. 

41% of American consumers are against cash-free businesses

When it comes to businesses not accepting cash, the over 50s are most likely to object: 41% say they’re against cashless businesses, versus 28% of the younger age groups. And although half of over 50s are happy to leave it up to the business to decide whether or not to accept cash, businesses that do opt to ban cash risk alienating a significant percentage of that demographic.  

With that said, if your brand is targeting consumers in the Millennial bracket, focusing on digital payments might make sense. A quarter of this demographic (more than any other) strongly agree they would welcome the prospect of a cashless society, with 53% preferring not to carry out transactions with cash. 

Digital payments preferred, but reliability concerns are high

Although more than half of each age group tends to carry cash in their wallets, most consumers prefer to use a digital payment method. Cards are the most popular payment type overall, but under 30s are more likely than other age groups to choose device payments (19%).

The top reason for favoring digital payments is the convenience they offer (58%), but another benefit is that paying digitally helps people to keep track of what they’ve spent (40%). While those of all ages agree on these advantages, under 30s over-index for using cards to help them build their credit score (22%) and also because they worry about losing cash or being shortchanged (20%). Meanwhile, those aged 50-67 are significantly more likely than other age groups to favor card payments because they can earn points or cashback (39%). 

Despite the benefits offered by digital payments, providers should note a reasonable amount of concern among US consumers surrounding their reliability. More than half of Americans worry about power outages or cyber attacks causing digital payments to fail. This fear is most pronounced among the under 30s, 57% of whom agree it worries them.

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In this article, we explore what consumers in the US and UK really think about AI in their banking, credit, investment and budgeting tools, using new data from our own consumer research. The data highlights where AI is welcomed, where it triggers discomfort, and what financial services providers need to do if they want to build lasting confidence in AI-powered products.

Take a look at our interactive dashboard to dig into responses and segments. 

Quick summary

Here’s our TL;DR summary of the latest insights on AI in financial services:

• 62% of Americans are comfortable with AI detecting fraud – the most trusted use case.
• 59% of Brits want full transparency about how and when AI is used by their financial providers.
• 58.5% of Americans and 59% of Brits want the option to speak to a human at any time, even when AI is involved.
• 56% of Americans and 55.5% of Brits expect AI to improve their finances in the next five years.
• 47% of Americans and 45% of Brits are comfortable with AI making loan or credit card decisions, with around 30% feeling actively uncomfortable – showing hesitancy in high-stakes areas.
• Top concerns include data privacy, loss of human interaction, AI errors, job displacement and algorithmic bias.

US AI in finserv insights

Americans are tentatively comfortable with AI

We asked our US respondents how comfortable they’d be with AI being used in a few key areas of their financial lives. For every option, a majority of Americans say they’re either comfortable or very comfortable:

• Detecting fraud or suspicious activity – 62% are either comfortable or very comfortable
• Personalised offers or product recommendations – 62% 
• Budgeting help or spending insights – 60.5%
• Customer service – 56% 
• Investment advice or portfolio management – 47%
• Loan or credit card approval decisions – 47%

We generally see younger groups – particularly those aged 25–44 – are significantly more comfortable than older groups. However the youngest group – people aged 18–24 – don’t show the same enthusiasm as those other younger groups. 

There’s also a gender split when we look at the crosstab. For each option, males are more comfortable than females. We found that females show more indifference or clear discomfort with most elements of AI in financial services. 

Three fifths still want a human option 

Our results show that three fifths (58.5%) of Americans still want the option to speak to a human at any time, to help them trust financial services that use AI. 

Meanwhile half of our respondents (51%) want to know their data is handled securely and ethically. Almost 40% want to see a strong track record of fair and accurate decisions, and 38% want a clear explanation of how the AI works.

Looking again at the gender split, females show a greater desire for almost all the options. But males over-index for wanting to see a strong track record and for independent audits or regulation. 

Most people think AI will improve their finances

Over half (56%) of Americans told us they think AI will improve their personal finances in the next five years. This percentage rises to 65% for people aged 18–34, but then shows a downward trend as we work our way up the age groups. 

We found that 15% of people think their finances will be harmed by AI. There’s a cliff between the 35–44 and 45–54 age groups: 12% of the former said AI will harm their wallet, while 20% of the latter said the same. 

Males remain positive about AI’s effect on their finances: 64% said they expect theirs to improve because of AI, compared to 48% of females. 

US shoppers want AI transparency

Well over half (55%) of our respondents said they want full transparency from their financial providers about when and how they use AI. A further 26% want a basic overview, as long as they can get more detail if they want it. 

Only 3% of Americans from our survey don’t need to know about AI from their financial providers, as long as the service works well. And 9% said they’d prefer not to have AI used by their providers at all. 

What are Americans’ main concerns about AI in finserv?

We asked respondents to tell us what concerns them most about the use of AI in financial services. Here’s our AI summary of their responses:

• Data privacy and security concerns are the most prevalent, with many fearing personal information could be leaked, stolen or hacked through AI systems.
• Lack of human interaction is a significant concern, with respondents preferring to speak with real people for financial advice and problem-solving rather than relying on AI.
• Fear of AI errors and inaccuracies that could lead to financial losses, incorrect financial advice, or unfair decisions in lending or credit scoring.
• Concerns about job displacement as AI replaces human workers in the financial services sector.
• Algorithmic bias and transparency concerns, with worries that AI might make unfair decisions without clear explanations of how conclusions are reached.

UK AI in finserv insights

Brits show general comfort with AI in finserv

Our respondents said they were mostly comfortable or very comfortable with AI being used in all of the options we gave them:

• Detecting fraud or suspicious activity – 63.5% are either comfortable or very comfortable
• Personalised offers or product recommendations – 63% 
• Budgeting help or spending insights – 62%
• Customer service – 55% 
• Investment advice or portfolio management – 43%
• Loan or credit card approval decisions – 45%

However, a still significant 31% of Brits said they’d be uncomfortable with AI being used for investment advice or portfolio management, and 30% would be uncomfortable with it being used for loan or credit card approval decisions. 

And although we generally see younger groups showing more comfort with AI and older groups expressing greater discomfort, the youngest age group throws us a curveball. People aged 18–24 don’t show any notable increase in comfort with AI in finserv. In fact the only option they over-indexed for was for a greater level of discomfort with AI being used for loan or credit card approval decisions. 

UK shoppers want access to a human

Three fifths (59%) of our UK respondents want the option to speak to a human at any time – this is what would make them more likely to trust financial services that use AI. 

Meanwhile 52% want to know their data is handled securely and ethically, and 39.5% want to see a strong track record of fair and accurate decisions. 

One interesting outlier is that people aged 25–34 are particularly keen to see positive reviews or recommendations from other users. Almost half (47%) of that age group chose that, compared to the UK average of 34%. 

More than half expect personal finance improvements due to AI

Over half (55.5%) of our UK respondents said they expect their personal finances to improve in the next five years as a result of AI. There’s particular optimism from younger groups, with 67% of 18–24s and 78% of 25–34s expecting improvements. 

Just 11% of respondents said they thought their finances would be harmed by AI. Interestingly, we see the youngest group – those aged 18–24 – show an uptick here, with 16% expecting AI to harm their finances. 

Brits want full AI transparency

Almost three fifths (59%) of Brits say they want full transparency from financial providers about how and when they use AI. Interestingly we see this percentage jump to 68% for people aged 25–34, a group that also shows greater keenness overall for AI financial services. 

A quarter (24%) of our respondents would like a basic overview of AI in their financial services, as long as they can get more detail if they want. 

Only 2% of Brits don’t need any transparency, and a further 6% would prefer not to have AI used at all for their finances. 

Privacy and human connection are Brits’ top concerns

We asked our UK respondents to tell us what concerns them most about the use of AI in financial services. Here’s our AI summary of their responses:

• Data privacy and security concerns, including fears about personal information being accessed by hackers, leaked or misused
• Lack of human interaction and oversight, with worries about not being able to speak to a real person when needed and missing the personal touch
• Concerns about accuracy and reliability of AI systems, including potential errors in financial decisions and advice
• Fears about bias, discrimination, and lack of transparency in AI decision-making processes
• Job displacement concerns as AI automation replaces human workers in financial services

Take a look at our interactive dashboard to dig into responses and segments. 

Consumer Adoption of AI Report

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The survey of 1,200 nationally representative working-age consumers in the US and UK shows that viewers are downgrading plans faster than they’re upgrading, while the biggest streamers face the highest risk of cancelation.

Quick summary

• More than a third of consumers have reduced the number of TV streaming subscriptions they have in the last 12 months, and now typically have 2-3.
• 40% of Americans and 38% of Brits have downgraded a premium plan to an ad-supported one.
• Nearly a third of subscribers in both markets have upgraded to a premium subscription in the last 12 months.
• 26% of US consumers and 29% of UK consumers plan to cancel or downgrade a subscription over the next year. 
• Price sensitivity is high with more than half of subscribers ready to cancel or downgrade if prices rise by more than 20%.

US results

Americans have already undertaken a TV streaming subscription cull

Nearly 40% of US consumers say they have canceled a subscription to a TV streaming service in the last 12 months, with Netflix and Disney+ having sustained the highest rates of cancelation (around 10% of respondents said they had canceled). 

Today, the single largest percentages of Americans have either two (20%) or three (21%) TV streaming subscriptions, with the most popular services being Netflix (70.5%), Amazon Prime Video (56%) and Hulu (49%) [view US results dashboard]. 

However, looking at the figures overall, 63% of the 18-30 and 31-49 age groups, and 49% of over 50s, have at least three subscriptions. The 31-49 age group shows the highest rate of multiple TV streaming subscriptions: 16% have more than five, compared with 10% of their younger and older counterparts. 

The over 50s are the demographic most likely to not subscribe to any TV streaming services (17%) or have just one subscription (16%). They’re also most likely to have ad-supported plans: 76% versus only 35% who have a premium ad-free plan. This preference for ad-supported subscriptions is not seen among the other age groups. 

Significant amount of TV subscription plans have been downgraded

For consumers who don’t want to cancel a subscription but need to economize, many services offer the option to downgrade to a cheaper plan supported by ads. Just over 40% of Americans say they have switched from a premium plan to one with ads in the last 12 months.   

Netflix sees the highest rate of plan downgrades (18%), while 13% have switched to an ad-supported plan with Hulu, and with Amazon Prime. Consumers aged 31-49 are most likely to have downgraded a premium plan in the last 12 months (46%).  

Meanwhile, upgrades to ad-free plans have failed to outpace downgrades, with only 32% of consumers going premium in the same period. Just over 14% of respondents said they upgraded their Netflix subscription, while 9% had upgraded across Hulu, Amazon Prime and Disney+. 

Looking ahead, fewer consumers are considering canceling or downgrading a TV streaming subscription in the next 12 months: 26% say they’re likely to. Those aged 31-49 have the highest intent, with 31% thinking about it. Looking at the risk of cancelation/downgrade per streaming service, there’s a 6-8% churn forecast for the top providers. 

Moderate price increases could jeopardize subscriber numbers

US consumers remain fairly price sensitive, with 56% saying they would cancel or downgrade a TV streaming subscription if the price rose by more than 20%. On the flip side, there is a dedicated 25% of viewers who would accept a 30-40% price increase before reconsidering their options.

Ad-supported plans become attractive when they’re priced at
30-40% less than premium plans

For streaming services that want to incentivize people to choose ad-supported plans, our data shows they start to become attractive when they’re priced at 30-40% less than premium plans (29% of viewers would switch for that level of saving). Even at a 10% discount, 18% of subscribers would be tempted. And it’s not only those on a lower income looking to make savings: 48% of those with a household income over $100k would opt for an ad-supported plan if it was between 10-40% cheaper. 

However, there is a limit to the number of ads viewers are willing to tolerate in exchange for cheaper streaming. The sweet spot is three to four ads per show before viewers get irritated and start to think about canceling or upgrading. 

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UK results

UK consumers are subscribing to fewer TV streaming services

Subscription trends among UK consumers reveal that over a third (34%) have terminated a TV streaming service in the past year. Netflix and Disney+ experienced the highest cancellation rates, with around 8% of survey participants reporting ending their subscriptions.

Currently, the majority of British consumers maintain either two (29%) or three (25.5%) TV streaming subscriptions. The most popular platforms are Netflix (81%), Amazon Prime Video (67%), and Disney+ (51%) [view UK results dashboard].

Younger demographics are more inclined towards multiple subscriptions. Notably, 61% of 18-30-year-olds, 41% of 31-49-year-olds, and 34% of those over 50 have at least three streaming services. Gender also influences subscription habits, with 52% of women holding at least three subscriptions compared to 40% of men.

The 50+ age group is most likely to abstain from TV streaming services entirely (19%) or to have just a single subscription (22%). This demographic also exhibits a strong preference for ad-supported plans (75%) over premium ad-free plans (29%), a trend not observed in younger age brackets.

Downgrading is a popular way to manage TV subscription costs

Amid economic pressures, a significant 38% of British consumers have opted to switch from premium to ad-supported TV subscription plans in the past year, rather than cancel outright. Netflix leads in downgrades at 20%, followed by Amazon Prime and Disney+, each at around 10%. The 18-30 age group shows the highest tendency to downgrade premium plans, with nearly half (46%) making the switch in the last 12 months.

Conversely, only 32% of consumers upgraded to ad-free premium plans within the same period, failing to surpass the downgrade rate. Netflix saw a 15% upgrade rate, while both Amazon Prime and Disney+ experienced approximately 10%.

Future plans indicate a slight decrease in potential subscription changes, as 29% of consumers are considering cancelling or downgrading TV streaming services in the coming year. Those aged 18-30 and 31-49 show the strongest inclination to make these changes, with 30% from each segment considering it. Expected churn rates for top streaming providers are forecasted at 7-9%.

Price hikes mean potential subscriber losses 

Price sensitivity is prominent among British viewers in the TV streaming market, with over half (55%) ready to cancel or downgrade subscriptions if operators put prices up by more than 20%. However, a notable 28% demonstrates higher price tolerance, willing to accept increases of 30-40% before reassessing.

Ad-supported plans become attractive when they’re priced at
30-40% less than premium plans

Ad-supported plans become appealing when priced 30-40% lower than premium options, prompting 32% of viewers to switch. Even a 10% discount can entice 16% of subscribers. This isn’t solely driven by lower-income individuals; 44% of households earning over £75k would opt for ad-supported plans with a 10-40% price reduction.

A key factor influencing viewer tolerance for ad-supported models is the number of ads. Acceptance peaks at up to four ads per show, beyond which irritation sets in, leading viewers to consider canceling or upgrading.

Get the latest UK media consumption data

The 8th annual edition covers television, audio, news, and social media, offering you a detailed breakdown of how Brits spend their time.

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