Submit Your Article Advertise Newsletter
Subscribe to our RSS feed!

Good News: Consumers Ready to Splurge


People Think Their Neighbors Are Ready to Spend More

An interesting survey was conducted by Market Force Information recently, which found that consumer spending appears to be brightening. That's a good thing for businesses of all sizes.

The survey was conducted in early December with about 3,000 respondents ranging in age from 19 to 72. It reflected a broad spectrum of income levels; approximately half have incomes of more than $50,000 a year. Approximately 75% were women, which the firm deems primary household consumer purchasers. Half have children at home.

When asked if they plan on splurging on an item in the next three months, 65% said yes. Most intend to "splurge" on electronics, travel, and apparel. Here are the top ranked splurged items in order of popularity:

- TV/Blu-ray/DVD/Accessories 14.74%
- Travel/Vacation 13.89%
- Computer/Accessories 11.49%
- Apparel/Shoes/Purse/Jewelry 9.60%
- Entertainment/Video Games/Music 6.20%
- Car/Accessories 5.30%
- Furniture 5.25%
- Home Improvement 5.15%

"Equally heartening was their response to the question, 'Will you watch every penny in 2010, relax the purse strings a bit, or spend more freely on the things you want?' While 1 in 4 consumers responded that they would relax the purse strings a bit more and/or spend more freely, that figure jumped to one-third of consumers when asked to guess what their friends and neighbors will do (as shown in the graph)," says Market Force.

Consumers Ready to Splurge?

"This disparity is often an early sign of an attitude shift," the firm says. "In today’s climate when being frugal is considered an important personal attribute, consumers are not inclined to tell strangers that they plan to splurge or increase their spending. But, if consumers are asked what they think their friends or neighbors will do, they have no such restraint. This question can often indicate likely behavior as attitudes begin to shift."

The survey did find that there is still plenty of caution. 2/3 said they would spulge, but the same amount said they were planning on cutting back in one or more areas—focusing their spending on things that they really want.

AddThis Social Bookmark Widget

About the author:
Chris is a content coordinator and staff writer for SmallBusinessNewz and the iEntry Network. Subscribe to SmallBusinessNewz RSS Feeds.

Comments

Good news indeed

Sounds encouraging - and interesting that human psychology suggests we think others will relax their spending attitudes before we do it ourselves!?!

Cash or Credit?

Although the news is indeed good - or better anyway - the questions are:

1. How long will the spending continue?

2. What kind of spending will they do?

We overall had a good December. Up over 2008. However the year itself is going to be slightly down.

What are consumers going to consider as "got to haves" vs. "need to haves"?  And even beyond that, and I think more importantly, how will we retailers react? Will we - our compadres - continue to commoditize our respective niches by lowering prices & margins. Or will we go back to adding value - and therefore profit (something that Pres. Obama thinks we can do without) - to our products and companies?

Time will tell. Happy Boxing Day!

I find no disparity

Being frugal during hard economic times is typical and so is distrust of others. I find no disparity here or attitude shift. People just don't want to tell others their business, especially when the enconomy is struggling. That's why safety and security items such as the ones on my web site do very well now. Thanks, Chris.

The spends have gone up due

The spends have gone up due to two reasons—one, firms have started fearing a slowdown in rural demand and some pockets of urban market, so in order to increase awareness, they (companies) spent more. Second, savings resulting from low input prices have helped,

Home Improvement only 5.15%?

I am surprised to learn that home improvement was at the bottom of the list of splurge items. We have been doing tons of window film installations for people's home windows since the tax credit was initiated here in Toronto, (Ontario, Canada). Apparentyl I should be in the vacation business! Although energy efficiency products such as what we sell on our website http://www.sunoutsolutions.com seem to be hot right now...

Window film save money

 Our Safety and Security Window Film Toronto helps hold your glass in place during destructive weather conditions, bomb blasts, explosions, or smash and grab burglaries. It helps maintain the integrity of a structure's outer shell to keep wind, rain and flying glass fragments from wreaking havoc inside the structure.

Optically clear Armorcoat safety films are colorless and undetectable on glass, which makes them the perfect protection retrofit. Unlike many other windows films, Armorcoat clear safety windows films films are non-reflective so it is virtually invisible on your windows. You maintain the natural appearance of your windows day or night. There is no mirror effect or detectable change to the glass surface so your windows look clear, bright and beautiful.

 

Out of Beer

 Do you need to send a Birthday Gift?

Maybe you need to Thank someone?
Are you having a Party or BBQ?
Maybe you just wish to spoil yourself?


Dial a Bottle Downtown service is designed to offer you a home alcohol delivery service that will supply you with alcohol and cigarettes .

We deliver direct to your doorstep, so whether you have ran out of drink for a party, have some unexpected guests and your drink cabinet is empty, having a quiet night in with your partner and realize there is no wine, any situation, any event, Dial a Bottle will come to your rescue.

We charge as low as $8.99 for home deliveries. 
For each additional stop Dial a Bottle Downtown charge $2.99. 
For non - residence including Hotel / Motel / Guest House we charge $15.99. 
10% surcharge may apply.

 

 

Dial a Bottle

Always-Dial A Bottle-Toronto offers you beer delivery ,liquor delivery, wine delivery and alcohol delivery service in Toronto-just give us a call at :416-890-7451 and our representative will be happy to assist you in making the best choice of any product from Lcbo , Beer store and grocery stores .This product will be delivered within 1 hour right to your door. Call:416-890-7451 for beer delivery ,liquor delivery, wine delivery and alcohol delivery at the most competitive price and the best service in Toronto offered by Always-Dial A Bottle-Toronto in Toronto, Ontario, Canada.

Post new comment

The content of this field is kept private and will not be shown publicly.
SmallBusinessNewz: Become A Partner
We want you!
Writing for SmallBusinessNewz is a great way to have your articles read by many business owners around the world. You'll also get the added benifit of helping others learn from your experiences.
Full Name:
Email:
Website:
All fields required. Actual article
submission begins on next page.
Visit the SmallbBusinessNewz Directory
Do you have a business site?
Submit your business related site FREE!
Accounting
Book Keeping, Training...

Advertising
PPC, Print, Banner...

Investing
VCs, Mutual Funds...
Brick and Mortar
Stores, Offices...

Research/Studies
Research, Data, Studies...

Tips/Tutorials
Tips, Advice, Tutorials...
» Submit your site «
DirectoryBlog.WebProNews
Latest News on: DirectoryBlog.WebProNews
SOPA-Related Category Added To WebProNews eBusiness Directory

As you may have noticed on WebProNews (this directory's content-rich news site) has been very concentrated on SOPA, PIPA, and ACTA-related news stories. Ever since the SOPA blackout (mentioned in...
Subscribe to SBN


Send me relevant info

Get Your Site Submitted for Free in the World's Largest B2B Directory!

*Mandatory Field
* *

Free Downloads