consumer snapshot april 2014
TRANSCRIPT
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sentiment strategy
april 2014
Disclaimer: Prosper Business Development and its affiliated companies (“Prosper”) make no warranties, either expressed or implied, concerning: data gathered or obtained from any source; the present or future methodology employed in producing the statistics; or the data and estimates represent only the opinion of Prosper and reliance thereon and use thereof shall be at the user’s own risk.
purchase intentions
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sentiment
Source: Monthly Consumer Survey
consumer confidence sentiment rises slightly in April with 41.2% confident/very
confident in chances for a strong economy, up half a point from March
very confident/confident in chances for a strong economy {adults 18+}
13 month summary while confidence remains two points below the 13 month
high recorded in January, sentiment seems to have stabilized since the October’s low (courtesy of the
government shutdown)
40.1% 41.2%
20%
25%
30%
35%
40%
45%
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sentiment
Source: Monthly Consumer Survey
very confident/confident in chances for a strong economy {adults 18+}
cautiously optimistic…again? current confidence level is technically the highest April
reading since the Great Recession, but rests just slightly ahead of Apr-13 and a full 5 points below pre-recession
sentiment
consumer confidence sentiment rises slightly in April with 41.2% confident/very
confident in chances for a strong economy, up half a point from March
13 month summary while confidence remains two points below the 13 month
high recorded in January, sentiment seems to have stabilized since the October’s low (courtesy of the
government shutdown)
46.5
%
40.1
%
41.2
%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
Apr-07 Apr-08 Apr-09 Apr-10 Apr-11 Apr-12 Apr-13 Apr-14
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strategy
Source: Monthly Consumer Survey
practicality & focus on needs {adults 18+}
cautious optimism for retailers?
practicality toward purchasing declines in April (41.7%) for the second consecutive month
year-over-year, pragmatic purchase intentions are down 13%+
still, fewer than half (48.5%) contend that they zero in on just what they need when at the store, down nearly
10% from Apr-13
focus necessities upticks in April
with spring signaling spending in key areas (home improvement, lawn & garden, apparel), expect tempered
enthusiasm from consumers
so what does this mean?
48.1%
41.7%
53.4%
48.5%
30%
35%
40%
45%
50%
55%
60%
I have become more practical and realistic in my purchases
I focus more on what I NEED rather than what I WANT
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purchase intentions
Source: National Retail Federation/Monthly Consumer Survey
what do you plan to spend your tax refund on? {adults 18+ expecting a tax refund}
nearly half of refund seekers plan to pad their savings accounts…however, more than one in ten (12.8%) are planning to spend on
vacation travel, up 25% from Apr-13
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
Savings Pay downdebt
Everydayexpenses
Vacation Majorpurchase
2013 2014
compared to last year, fewer (10.7%, down 20%) plan to make a major purchase (i.e. TV, auto, furniture, etc.)
© 2014, Prosper® www.ProsperDiscovery.com
purchase intentions
Source: Monthly Consumer Survey
do you plan to make any of the following major (big dollar) purchases within the next 6 months? {adults 18+}
sentiment echoed in 6 month purchase plans among adults overall
nearly one in four (23.0%) are planning vacation travel in next six months, rising 15% year-over-year
0% 10% 20% 30%
Vacation Travel
Computer
Car/Truck
Furniture
Major Home Improvement
TV
Home Appliances
Mobile Device
Jewelry/Watch Apr-13 Apr-14
nearly of refund seekers plan to pad their savings accounts…however,
more than one in ten (12.8%) are planning to spend on vacation travel, up 25% from Apr-13
compared to last year, fewer (10.7%, down 20%) plan to make a major purchase (i.e. TV, auto, furniture, etc.)
© 2014, Prosper® www.ProsperDiscovery.com
purchase intentions
Source: Monthly Consumer Survey
do you plan to make any of the following major (big dollar) purchases within the next 6 months? {by generation}
sentiment echoed in 6 month purchase plans among adults overall
nearly one in four (23.0%) are planning vacation travel in next six months, rising 15% year-over-year
nearly of refund seekers plan to pad their savings accounts…however,
more than one in ten (12.8%) are planning to spend on vacation travel, up 25% from Apr-13
compared to last year, fewer (10.7%, down 20%) plan to make a major purchase (i.e. TV, auto, furniture, etc.)
0% 10% 20% 30%
Vacation Travel
Computer
Car/Truck
Furniture
Major HomeImprovement
Adults 18+MillennialsGen XBoomersSilent
Key: Millennials (1983 – 1996), Gen X (1965 – 1982), Boomers (1946 – 1964), Silent (born pre-1946)
look for Millennials to drive durables spending over the next two quarters
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thanks
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Pam Goodfellow Consumer Insights Director
Prosper Insights & Analytics™ [email protected] ProsperDiscovery.com
ConsumerSnapshot.com
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