Fresh Consumer Insights for July
Early each month, we release our Executive Briefing – complimentary topline insights from our latest Monthly Consumer Survey of more than 8,000 consumers.
And, we’ve just released our latest edition for July. Here’s what you may have missed:
– Economic sentiment perked up from June, though consumers failed to set off any fireworks compared to years past. This month’s reading (32.8%) looks a little stagnant when placed in longer-term perspective – and well below Jul-07’s pre-recession figure of 47.8%.
– Workers show signs of concern for personal job security. 4.2% admitted they were anxious about becoming laid off, up from last month as well as one year ago.
– With the campaign season about to hit full throttle, consumers seem to be bracing for the onslaught of political propaganda. Overall, though, consumers seem a little less apprehensive this Presidential go-around they did during the 2008 McCain vs. Obama election. Plus: how would you score in a Presidential Pop Quiz?
– The uptick in consumer confidence this month may be leading a few shoppers off the practicality platform. Before you start thinking “spending rebound,” though, keep this in mind: practicality remains well above the sensible shopping tendencies we witnessed before the Great Recession.
– July pump price prediction: $3.49/gal, 25 cents below the forecast for the end of June ($3.75/gal). For more on this topic: Pain at the Pump: Who (or What) is Controlling Pump Prices?
– A bit of Christmas cheer might be in store for retailers: one in ten says they plan to spend more on gifts this year, up from 6.5% in Jul-11.
– Was JC Penney’s Fair & Square strategy a gift to Macy’s in Women’s Clothing? For the sixth consecutive month, Macy’s bests JC Penney in this category, though Kohl’s and Walmart continue to lead overall.
– In the well-documented Shoe Wars, one retailer is M.I.A. in July. Yes, that’s right (and you heard it here first)…JC Penney (now #6) has been bounced from the Top 5 by Foot Locker.
– 90 Day Outlook: Back-to-School (i.e. Children’s Clothing) looks to be a bright spot in consumers’ spending plans. However, with the majority of categories facing DOWNward compared to June, revenues may fizzle instead of sizzle as we make our way through summer.
– What’s Hot? Farmers’ fresh fare beats out Spider-Man, Dark Knight.
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And, to view the latest BIG Executive Briefing in its entirely: July 2012.
Source: BIGinsight™ Monthly Consumer Survey – JUL-12 (N = 8509, 7/2 – 7/9/12)
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