The survey, of 7,000 consumers conducted at the end of October/ beginning of November, also revealed that 43% of consumers are budgeting less money for the upcoming holiday season out of concern that the country will hit the new debt ceiling and the government will shut down once again. This proportion was even higher among Hispanics, households with children and lower-earning households.

“The impending debt ceiling crisis and government shutdown is yet one more straw on the camel’s back, and consumers are ready to react by locking down their wallets,” said Susan Viamari, editor of Times & Trends, IRI. “CPG marketers must continue to monitor the situation carefully and be poised to rapidly deploy programs that will support consumers through the next financial obstacle, but it is critical that these programs are carefully designed to support – not erode – brand equity and justify the expenditure with a solid value proposition.”

More results from the survey can be found here.