Prosper says consumer confidence dips, but spending plans hold up

Prosper Insights & Analytics says U.S. consumers turned less confident in September 2026, but their 90-day spending intentions stayed resilient and value-seeking behavior remained intact. The gap matters for brands, retailers and investors because weaker confidence did not automatically translate into a broad pullback in planned purchases.

Why it matters: - Prosper Insights & Analytics says September data show consumer confidence and consumer demand are not moving in lockstep. - The split matters for retailers, brands and investors because lower confidence did not produce an equivalent drop in planned spending. - Consumers remain selective and value-conscious, but still signal willingness to buy when a purchase feels worthwhile.

What happened: - Consumer confidence fell to 38.4% in September from 40.6% in August and 39.5% a year earlier. - Prosper’s Consumer Mood Index held near baseline at 100.6, down slightly from 101.1 in August. - Prosper said the September 2026 Consumer Snapshot shows a U.S. consumer that is less confident about the economy but still engaged in the marketplace. - The company released the data on Sept. 24, 2026.

The details: - Consumer confidence remained below historical pre-pandemic levels. - The gap between economic confidence and consumer mood suggests broader economic worries have not fully carried over into personal outlook. - Awareness of price increases moved lower in September, including a 4.3 percentage point decline in gasoline awareness from August. - 34.4% of adults said their standard of living has decreased, up from 33.7% in August. - Consumers continued to manage higher costs by shopping sales, buying more store brands or generics, and using coupons more often. - 35.3% of adults said they will drive less because of fluctuating gas prices, up from 28.8% a year earlier. - 22.9% said they are spending less on groceries because of gas, up from 18.5% last September. - 27.7% said gas prices have had no major effect on spending, down from 38.4% a year earlier. - The share saying they are becoming more practical and realistic in purchases fell to 35.2% from 40.4% in August. - The share focused on buying just what they need declined to 38.2% from 42.7% in August. - Prosper’s 90-day Spending Score fell to 82.16 from 86.75 in August, reflecting the end of back-to-school spending, but remained above 81.59 in September 2025. - Major purchase plans were mixed but stable, with vacation travel intentions slightly lower than last year, home improvement and home-buying plans steady, and car-buying intentions higher. - Amazon Prime membership stands at 58.6%. - Walmart Plus membership rose to 28.1% from 23.8% a year ago and 18.0% two years ago. - Prosper said the growth in membership programs shows value, convenience and recurring benefits continue to resonate.

Between the lines: - The data suggest consumers are still under price pressure, but not in a full retrenchment. - Gas prices continue to shape household trade-offs, which can affect discretionary categories unevenly. - The rise in membership adoption points to consumers looking for clearer value and built-in savings. - Phil Rist, EVP Strategic Initiatives at Prosper Insights & Analytics, said consumers are concerned about the economy but are not showing an equivalent retreat in spending intentions.

What's next: - Prosper says its demand-formation data will remain useful for tracking whether weaker confidence eventually starts to hit actual spending plans. - Asset managers and financial analysts will likely keep using the data to gauge demand beyond confidence surveys. - Brands and retailers will watch whether value-seeking behavior hardens into deeper spending restraint or stays selective. - Prosper directs listeners to a 5-minute audio briefing on Spotify and says more information on its “Demand DNA” macro forecast signals is available by email at info@goProsper.com.

The bottom line: - September’s report shows a cautious consumer, not a disappearing one.