The global consumer landscape in 2026 will be characterized by increased caution, frugality, and financial discipline, according to AlixPartners' 2026 Global Consumer Outlook. Based on a survey of over 13,000 consumers across nine countries, the study shows a significant pullback in spending intentions, with a shift towards lower planned spending, 18 percentage points higher than those planning to spend more. Younger shoppers and high-income earners are also signaling a retreat in spending, reflecting the impact of inflation and wage growth. Key findings include China experiencing a dramatic reversal with an 8 ppt net reduction in spending, the United States prioritizing saving extra money with a 4 ppt increase from last year, the UK showing high levels of "experience fatigue," and France reporting a 33 ppt net reduction in spending intentions. In the Middle East, consumers in Saudi Arabia and the UAE anticipate a 5 ppt net spend increase, the highest globally. The report emphasizes the need for businesses to understand this as a structural reset of value, requiring sharper pricing, personalized offers, and customer experiences that justify spending. Retailers must focus on reinforcing value in essentials and innovating in discretionary categories to remain relevant.