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Posts Tagged ‘Consumer Confidence’

Fresh Consumer Insights for July

July 17, 2012 3 comments
BIGinsight Executive Briefing - July 2012

Click to view the July 2012 BIGinsight Executive Briefing.

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.

To sign up to receive the monthly BIGinsight™ Executive Briefing, please click here.

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)

© 2012, Prosper®

BIGinsight™ is a trademark of Prosper Business Development Corp.

Fresh Consumer Insights via Video

For those of you who may have missed our latest Executive Briefing or our monthly BIG Call, we just wanted to let you know that you still have a chance to get up-to-date on the latest consumer trends via our Video Briefing!

That’s right…in just 5 minutes, we’ll educate you on what you need to know about confidence, consumer spending, unemployment, and retail. Simply click the play button below to view our latest insights from our Monthly Consumer Survey:


Interested in becoming a BIG VIP? Click here to sign up for access to a host of complimentary insights, from our briefings and webinars to press releases and more!

For more information on this data, please contact BIGinsight™.

Source: BIGinsight™ Monthly Consumer Survey – JUN-12 (N = 8760, 6/5 – 6/12/12)

© 2012, Prosper®

BIGinsight™ is a trademark of Prosper Business Development Corp.

Confidence Cools Off As Summer Heats Up + How Does the Stockholm Syndrome Relate to Savings?

June 27, 2012 1 comment

This month, my co-host for the BIG Call was John Mariotti, President/CEO & Founder of the Enterprise Group. John also currently serves as a Director on several corporate boards and is an award winning author.

For this month’s BIG Call, John supplemented our favorite data on confidence, employment, personal finances, and spending plans with his unique analysis and understanding of these topics.

Here’s what we talked about:
– Confidence in the economy cools off as summer heats up, marking the second consecutive month of decline
– Just 16% of consumers are calling for “fewer” layoffs – a figure that has decreased [i.e. grown more pessimistic] over the past two years
– Last month’s “dip” in practicality appears to have been a “blip” on consumers’ spending radar
– Why are consumers seemingly holding back when it comes to paying down debt or increasing their savings?
– Scary fact: One out of three consumers isn’t saving any income
– Improvements in 90 Day Outlook may not be as positive as they appear
How is JC Penney’s “Fair & Square” faring?

To listen to the recorded webinar, click here.

For the full, complimentary June 2012 BIG Call slide deck, please click here.

For more information on this data, please contact BIGinsight™.

Source: BIGinsight™ Monthly Consumer Survey – JUN-12 (N = 8760, 6/5 – 6/12/12)

© 2012, Prosper®

BIGinsight™ is a trademark of Prosper Business Development Corp.

June Insights – Hot Off the Press!

June 18, 2012 1 comment

Early each month, we release our Executive Briefing – complimentary topline insights from our latest Monthly Consumer Survey of more than 8,000 consumers.

BIGinsight June Executive Briefing

Click to view this month’s Executive Briefing

And, we’ve just released our latest edition for June. Here’s what you may have missed:

– As the summer weather heats up, confidence in the economy cools off. This month, just 31.3% feels very confident/confident in chances for a strong economy, down from last month and marking the second consecutive month of decline for this indicator.
Good luck, Class of 2012: With the official U.S. unemployment remaining a discouraging 8.2%, an increasing number of consumers foresee a rise in layoffs over the next six months compared to May.
– May’s dip in practicality appears to have been just a “blip” on consumers’ spending radar. Additionally, practicality remains elevated from the June readings we recorded during the recession, suggesting that fault lines in the macro-economy are still rattling spending plans on a micro level.
Pain at the Pump: No gas price “fireworks” expected to set off for upcoming the holiday. Drivers are anticipating an average pump price of $3.75/gal by the end of June, 20 cents lower than their prediction for the close of May.
– Walmart wins in Women’s Clothing, while JC Penney is slipping.
– Consumer Migration: While Walmart’s travails are well-documented in Women’s Clothing, does the big discounter’s outlook look any brighter over in Men’s section?
– 90 Day Outlook is looking UPward compared to the past two years.  However, with spending for the majority of merchandise categories weakening compared to May, look for practical consumers to continue to exercise caution when spending.
– What’s Hot? Saving is in style, with Coupons taking the top spot in our list of What’s Hot for June. [#attentionJCP]

To sign up to receive the monthly BIGinsight™ Executive Briefing, please click here.

And, to view the latest BIG Executive Briefing in its entirely: June 2012.

Source: BIGinsight™ Monthly Consumer Survey – JUN-12 (N = 8760, 6/5 – 6/12/12)

© 2012, Prosper®

BIGinsight™ is a trademark of Prosper Business Development Corp.

The Bloom is Off the Rose for Confidence + 4 Key Insights about Hispanic Consumers

This month, my co-host for the BIG Call was Dianne Kremer, Senior Analyst for BIGinsight. Dianne is also the editor of Prosper China’s Quarterly Briefings on Chinese Consumers and is a frequency quoted expert on our American Pulse insights.

For the first half of the Call, I presented new insights from our May Monthly Consumer survey, which included:
– The bloom is off the rose for Consumer Confidence, declining two points from April
– Practicality, Focus on Necessities declined from April…so was May’s “dip” in Confidence a short-term “blip” or are consumers having a sluggish spending response to sagging sentiment?
– Decreasing Overall Spending lowered from the extreme we saw in April
– One in three consumers feels “worse off” financially compared to the previous year
Department Store Domination in Women’s Clothing? (see also our latest press release on this topic)
– A BIG Forward Look at 90 day spending plans

And for the second half of the Call, Dianne discussed four key insights among Hispanic consumers:
– Higher Confidence, yet lower expectations for the Employment Outlook
– More positive about Personal Financial Situations
– Practical, but willing to spend
– Word of Mouth is key

To listen to the recorded webinar, click here.



For the full, complimentary May 2012 BIG Call slide deck, please click here.

For more information on this data, please contact BIGinsight™.

Source: BIGinsight™ Monthly Consumer Survey – MAY-12 (N = 8789, 5/2 – 5/8/12)

© 2012, Prosper®

BIGinsight™ is a trademark of Prosper Business Development Corp.

Have You Been Briefed for May?

Early each month, we release our Executive Briefing – complimentary topline insights from our latest Monthly Consumer Survey of more than 8,000 consumers.

May 2012 BIG Executive Briefing

Click to view this month’s Executive Briefing

Yesterday marked the release of our edition for May. Here’s what you may have missed:

The bloom is off the rose for Consumer Confidence…we saw signs of dampening sentiment in April (when confidence flatlined after five consecutive months of improvement), but sentiment for the economy declined two points from last month.

Nearly half maintains a penchant toward pragmatic spending, but this has declined four points from April. This figure remains elevated from May-11 and May-10, suggesting that market uncertainties (unemployment, gas prices, economic health, etc.) are still influencing spending.

While plans to decrease overall spending have lowered from the extreme we saw in April, cutting back remains at the fiscal forefront.

Drivers are anticipating an average price of $3.95/gal as we approach Memorial Day, lowering from the $4.17/gal expected at the end of April. Despite the recent declines in the cost of fueling up, the vast majority of consumers say their spending in other areas is still impacted by prices at the pump.

The Women’s Clothing battle is too close to call this month…after three consecutive turns as the leader in this category, Kohl’s shares the top spot with Walmart in May.

Are there cracks in Home Depot’s foundation? We examine the big builder and its competition in this month’s Consumer Migration Index.

Is Mom in for a treat on May 13? Six month purchase intentions are on the rise for all on our BIG Tickets items this month compared to May-11. A Mother’s Day favorite – Jewelry – is up 30%+ from last year.

– Move over Iron Man…Marvel’s The Avengers is no match for our favorite nonagenarian.

To sign up to receive the monthly BIGinsight™ Executive Briefing, please click here.

And, to view the latest BIG Executive Briefing in its entirety: May 2012.

Source: BIGinsight™ Monthly Consumer Survey – MAY-12 (N = 8789, 5/2 – 5/8/12)

© 2012, Prosper®

BIGinsight™ is a trademark of Prosper Business Development Corp.

Decreasing Spending Echoes Katrina Era + Pain at the Pump

April 27, 2012 1 comment

This month, my co-host for the BIG Call was Stacie Severs, Client Services Manager for BIGinsight and author of our Pain at the Pump blog series.

For the first half of the call, I presented new insight from our April Monthly Consumer survey, which included:
– Consumer Confidence, which stalled in April
– The “More of the Same” outlook for Unemployment
– The rising Focus on Needs, which is in range of recession-era Apr-09 and Apr-10
– The spike in plans to Decrease Overall Spending
– A BIG Forward Look at 90 day spending plans

For the second half of the Call, Stacie presented NEW findings on the impact of gas prices from our American Pulse survey. Here’s a preview:
– Nearly a third of consumers are filling up as soon as they see the price per gallon drop – regardless of whether or not they need it
– Two in five are shopping for apparel less frequently to help budget for the increasing cost of gas
– 20% are using their smartphones to research pump prices

To listen to the recorded webinar, click here.


For more information on this data, please contact BIGinsight™.

Source: BIGinsight™ Monthly Consumer Survey – APR-12 (N = 8724, 4/3 – 4/10/12)

© 2012, Prosper®

BIGinsight™ is a trademark of Prosper Business Development Corp.

Up, Up, and Away: Consumers Talk Rising Prices

April 4, 2012 2 comments

Consumers are still hyped up over inflated prices on many common household purchases, including food and gasoline, according to the latest results from BIGinsight™ Monthly Consumer Survey.

In our March survey, we asked our 9,000+ respondents the direction they felt prices were headed for items like children’s clothing, electronics, jeans, and of course the aforementioned food and fuel. We then tabulated this data (asked on a 5 point Likert scale, from “Significantly Less” to “Significantly More”) into our easy-to-read Diffusion Index, and – voila! – another informative blog post.

Let’s start with the hard facts:
– We asked about a broad range of products, from different types of apparel to items found around the home to staples. We are serving up a sampling of the results here.
– None of the items we price-checked with consumers ended up with a negative Diffusion Index (i.e. there was no consensus that any one item was more likely to decline in price rather than rise).
– FYI: an index of zero would mean that the vote was split on the decline-or-rise debate.

How do you expect prices will change over the next 6 months for the following items?Probably not-so-surprisingly, consumers pegged Gasoline as the item most likely to pump up in price over the next six months (index = 70.4), while Food followed with a nearly as impressive score (index = 63.2). Concerns with textile prices are still evident with more consumers [than not] anticipating that the cost of a pair of jeans or a fashion top will elevate this year.

What might be most surprising about this data? Among all of the items that we surveyed, Electronics received the lowest index (at 29.4). But that Apple iPad 2 can now be had for $399, right?

The key takeaway here is that consumers are hedging against rising prices – meaning that they will curb spending in other areas to compensate. While confidence did uptick in March, we also saw rising proclivities toward practicality and saving. Stay tuned for next week when we reveal how consumers are coping in April.

For more information on this data, please contact BIGinsight™.

Source: BIGinsight™ Monthly Consumer Survey – MAR-12 (N = 9242, 3/6 – 3/13/12)

© 2012, Prosper®

BIGinsight™ is a trademark of Prosper Business Development Corp.

“Save-not-Squander” + More on The Changing American Consumer

March 30, 2012 1 comment

I co-hosted the March BIG Call with a very special guest, Dr. Marianne Bickle, Chair and Director for the Center for Retailing, University of South Carolina. Armed with BIGinsight™ data, Marianne authored the new book, The Changing American Consumer (more on that in a second).

For the first half of the call, I presented new insight from our March Monthly Consumer Survey, which included:
– A rise in Consumer Confidence for the fifth consecutive month
– Fizzling spending with Practicality, Focus on Needs heating up
– The “Save-not-Squander” financial mantra
The Pain at the Pump predicament
– A BIG Forward Look at 90 day spending plans

For the second half of the Call, Marianne presented NEW findings on the Fast Food industry (which has been a hot topic lately…see also here, here, and here). Using our BIG data, Marianne analyzed consumer trends in Fast Food – by income, census region, and gender – and brought everything full circle with a discussion on The Changing American Consumer.

To listen to the recorded webinar, click here.

 

For more information on this data, please contact BIGinsight™.

Source: BIGinsight™ Monthly Consumer Survey – MAR-12 (N = 9242, 3/6 – 3/13/12)

© 2012, Prosper®

BIGinsight™ is a trademark of Prosper Business Development Corp.

Generation Gap: Confidence Defined

The components that contribute to confidence can differ from person to person. Is the stability of the national economy most important? Where do personal concerns with employment, finances, and the future come into play? Does the stock market influence anyone’s sentiment regarding the economy?

In this new analysis of the more than 9,000 respondents who completed our March Consumer Survey, we’re taking a look at how consumers define confidence. And, to make it even more interesting, we’re dissecting this data by generation:

Silent (born 1945 or earlier)
Boomers (born 1946 – 1964)
Gen X (born 1965 – 1982)
Gen Y (born 1983 – 1993)

Among adults in general, “Trust in the stability of the national economy” was deemed to have the most influence when determining one’s level of confidence (49.5%). “Trust that your future financial situation will improve” (44.3%), “Trust in employment conditions and your ability to get or keep a job” (42.5%), and “Trust in a positive future for your family” (39.9%) followed.

Trust in the Stability of the National Economy

While stability of the national economy was important across all generations, it is most valued among Silents (60.5%) and Boomers (55.3%) – and was each of these segments’ top confidence influencer. The younger sects, though, were more likely to define confidence from a more personal perspective. Nearly half of Gen Y-ers (46.4%) said that employment conditions/ability to keep a job was most influential; this was also the #1 confidence component for Gen X (45.8%).

Trust in Employment Conditions and Your Ability to Get or Keep a Job

Gens X (42.6%) and Y (43.3%) were also more likely to add “Trust in a positive future for your family” to their confidence equation compared to Boomers (38.3%) and particularly Silents (33.3%). “Trust in the future place of employment” was important to nearly a third of each generation, save for the Silent generation (13.4%) – presumably with retirement in sight, or at hand, for these consumers.

Additionally, the older the generation, the more likely that macro-environmental issues play a role in defining confidence. “Trust in government’s international policy,” “Trust in stock market,” “Trust in government’s domestic policy,” and “Trust in regional economy” peaked among Silents and tapered off with declining age.

No matter how you define confidence, though, the slow improvement we’re seeing for consumer sentiment (currently at 34.8%) is a step in the right direction for an economy – and a population – that have been struggling for several years. Stay tuned to see if this optimism can be sustained throughout the springtime or if rising gas prices with quash this good feeling.

Very Confident/Confident in Chances for a Strong Economy

For more information on this data, please contact BIGinsight™.

Source: BIGinsight™ Monthly Consumer Survey – MAR-12 (N = 9242, 3/6 – 3/13)

© 2012, Prosper®

BIGinsight™ is a trademark of Prosper Business Development Corp.

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