First Look: January 2013

Eager to know where consumers stand as we begin the New Year?

We’ve got the latest details on consumer confidence, employment, purchase plans, financial goals as well as what’s hot (or not) in our January 2013 Snapshot Summary. Here are some of the highlights:

– Did the fiscal cliff free fall we nearly experienced lead to more fragile sentiment for the New Year? For January, just over a third (35.3%) is very confident/confident in chances for a strong economy, down two points from last month.

– Though the U.S. unemployment rate remained stagnant at 7.8% for December, consumers maintain slightly higher hopes for the job market compared to thirty days ago. Look for unemployment to remain a hot topic in 2013, though: year-over-year; consumers look less optimistic about the pink slip situation.

– Perhaps some of those holiday gift cards are leading consumers to less practical pastures…this month, while nearly half are poised for pragmatic spending, this figure has declined three points from 30 days ago.

– New Year’s Resolution #1: Fix the Finances…in January, more than a third affirm that they plan to pay down debt and/or decrease overall spending over the next three months, rising from December as well as Jan-12 and Jan-11.

– With the annual average price of gas the highest on record in 2012, it should come as no surprise that drivers haven’t relegated this issue to the back seat…two-thirds are still affected by the pain at the pump. Drivers’ pump price prediction for the end of January is $3.52/gal, just under what was expected at the close of 2012.

– In this month’s retail roundup: In Women’s Clothing, Kohl’s bests Walmart for January, while the big discounter seems to be thisclose to losing the top spot in Shoes as well…stay tuned. Amazon proves it’s the biggest-freight-train-that-could in Electronics, nearly doubling customer share Y-O-Y. And, in an interesting development in Health & Beauty: it appears that 2013 could be a battle between Target and Walgreens…

– Evidence of a holiday hangover? With the gift-giving season in the rearview, consumers take a downward approach to spending compared to December.

– It’s blue skies ahead for vacationers in this month’s BIG Ticket, as 6 month purchase intentions for vacation travel have increased M-O-M and Y-O-Y.

– Not only is Amazon’s the world’s largest online retailer, but it’s the hottest as well…nearly four out of five consumers voted Amazon what’s hot in January. Plus: “Made in America” products, exercise/going to the gym, Super Bowl XLVII, and Walmart.

Our monthly Consumer Snapshot video analysis of the State of the Consumer for 2013 will be released tomorrow, January 16. This special edition includes quick insights on the five things you need to know about consumers in the New Year. To sign up to be a BIGinsight™ VIP and receive our Consumer Snapshot email notification, please click here.

And, to view the Snapshot Summary in its entirely: January 2013.

Source: BIGinsight.com

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