Consumers and the Economic Outlook - US - February 2015
“Consumers are optimistic about their financial situation but still skeptical of the future of the economy. Their perspective seems to reflect a cognitive dissonance considering the economic conditions do impact their personal finances. This can be their strategy to cope with the challenging reality of their financial situation; believing they are doing great financially helps them keep their hopes alive believing that their situation will get better regardless of its status.”
– Monica Staco, Financial Services Manager
Some questions answered in this report include:
- How are consumers’ financial and economic outlooks changing?
- Are consumers’ financial behaviors changing?
The economy is presenting signs of a comeback with lower unemployment rate, increase in wages, and decreases in gas prices. However, while consumers are confident about the future of their own financial situations, they continue to be skeptical about the general economy. This report reviews key measurements to assess the economy and consumers’ changes from a year ago, the factors contributing to consumers’ economic outlook, and the financial status of various groups of consumers who show differences in their perspectives, including women, Millennials, and homeowners.
Consumers are starting to experience the re-emergence of a stronger economy. However, they still hold on to the memory of the impact of the recession and are looking for more long-term consistent improvement to trust the stability of the economy. If in 2015 economic and financial conditions continue to grow, consumers will not hesitate to increase their discretionary spending. They are still focused on saving and clearing their debt, so additional spending may not be a high financial priority in 2015. FSI should encourage consumers to discuss their long-term goals to help them create a realistic plan, taking into account potential ups and downs of the economy. Such planning can accommodate consumers in their financial thought process and guide their spending and saving behaviors.
Take a look inside a sample report
Mintel’s consumer reports deliver insight and expert analysis into key consumer trends and behaviour in your marketplace, in addition to an overview of the market data and key brands. Mintel’s consumer reports provide you with easily digestible information to guide your future innovation and move your business forward.Download now
What you get
This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Mintel's proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.
Market reports provide appendices of data to support the research and insight produced. Our tables of data are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
* This is a sample representation of the report layout and does not reflect the research included in this report.
Why buy from us?
Our reports will provide you with market data, consumer research and competitive intelligence to succeed in your market.
Buy now and you'll have instant access to the information you need to make the right decisions.
Find out what's next in the markets that matter to you: where opportunities lie and what challenges you will face.
A business Superbrand, Mintel is a source you can trust. We have been defining and refining the Market Intelligence mix since 1972.