The Primax Spring 2026 Spending Report
Consumer spending proved remarkably resilient in the first quarter of 2026, even as inflation reaccelerated, gasoline prices surged and consumer sentiment fell sharply amid global instability. Debit and credit activity continued to grow year over year, supported by higher tax refunds and sustained spending on everyday needs.
At the same time, rapid shifts toward digital payments and wallets accelerated, underscoring how consumers are adapting their payment behavior in real time. This edition of the Primax Seasonal Spending Report offers banks a detailed view of Q1 transaction trends, sector performance and a deep dive into the continued migration toward digital and contactless payments — insights that are critical for navigating a volatile economic environment.
Key takeaways from the report include:
Spending stayed strong despite economic pressure. Debit and credit purchases and transactions grew year over year through March, even as inflation jumped to 3.3% and consumer sentiment declined sharply.
Gasoline prices drove both inflation and spending growth. Energy costs rose rapidly following geopolitical conflict, with gasoline accounting for roughly three‑quarters of March’s CPI increase and contributing meaningfully to purchase growth.
Debit continued to outperform credit. Debit purchases rose faster than credit purchases in Q1, led by Money Services and Goods, reflecting consumers’ preference for liquidity and everyday spending
Digital payments gained momentum. Nearly half of all credit and debit transactions were digital in Q1, with digital wallets increasing their share of both transaction volume and purchases year over year.
What Banks Should Do Now
Banks should closely monitor how rising prices — particularly fuel and essentials — are reshaping payment behavior, while accelerating investments in digital and tokenized payment experiences. Strengthening analytics capabilities to track sector‑level shifts, supporting digital wallet adoption and optimizing debit strategies can help banks stay aligned with evolving consumer preferences — download the full report to learn more.
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