Consumer confidence in Puerto Rico fell to its lowest level in September, forcing companies to rethink marketing strategies to reach increasingly cautious shoppers. Chantal Benet, senior economist at Economic Intelligence, said the firm’s consumer confidence index for Puerto Rico dropped to 22%. The top concerns were electricity and water (65%), cost of living (50%), cost of food (44%), income security (43%), health costs (42%) and employment security (38%).
Benet spoke at the SME Marketing Summit 2026 and said the trend is not limited to the Island: in the United States, consumer confidence fell to 12.6%, also its lowest point of the year. In the local survey, the category where consumers are cutting back most is eating out (58%), followed by clothing and shoes (40%), home improvements (33%) and subscriptions (30%).
They are not cutting back on food at home (48%), personal care (36%), outside entertainment (29%) and insurance (23%). Benet warned that rising retail sales do not necessarily mean more products sold, but higher prices. Compared with 2020, the whole basket is almost 20% more expensive and food is 30% more expensive, and projections for 2027 do not show prices falling.
Hilda Rodríguez, chief marketing officer of Alivia Health, said consumers have not stopped spending but are choosing which companies to engage, expecting speed, transparency, personalization and convenience. Alexandra Ruiz, president of the Association of Sales and Marketing Executives (SME), said relevance comes from value and listening to consumers, not just advertising budget, starting with price strategy.