Posted by Andrew Caravella, Corporate Communications
Fifty-seven percent of consumers say their household economic situation is the same or better; 52 percent expect to spend same or more in next 60 days
Performics today released its third month's consumer behavior findings from its "2009 Online Buyer Economic Trend Study."
Three months into the study, online and off-line consumers continue to forecast decreased spending this year, with cut backs on non-essentials and falling income as the primary reasons for this behavior. However, 57 percent of respondents say their household economic situation is either the same or better than it was at this time last year, up from 47 percent in April.
A variety of factors contribute to these consumer feelings. For example, in April, 17 percent of respondents indicated a lack of confidence in the economy as a reason for spending less. Since then, however, the number has dropped dramatically, to nine percent, indicating that while consumers continue to keep their belts tightened, a more positive outlook may be on the horizon.
"Consumers remain wary of today's economic situation and are behaving very carefully, making calculated purchase decisions across many types of goods and services," said Nick Beil, CEO of Performics. "Some signs point to improvement, though. We've begun to see attitudes changing, and behavior typically follows suit. Until these attitudes more significantly impact behavior, however, marketers should continue catering to the thriftier, calculating consumer."