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Overall consumer spending has been chugging along throughout 2023, despite expectations to the contrary. Yet, that doesn't mean all is well. Yes, consumers are still spending, but inflationary pressures have caused them to scale back on many discretionary purchases. 

One area taking a hit is smartphone buying. As our recent survey shows, there is a pronounced decrease compared to last year. Even with that reduction in planned spending, Apple and Samsung dominate on the device side, while Verizon, AT&T and T-Mobile continue to do so on the provider side. Churn is becoming a much bigger issue for providers, and there is a constant need to create new and compelling offers to retain and acquire customers.