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Everything you need to make the right decisions

Providing the most comprehensive and up-to-date information and analysis of the Consumers and the Economic Outlook market, and the behaviours, preferences and habits of the consumer.

Mintel has the answers you’re looking for

What are the key challenges facing the industry? Who is the consumer and what do they want? Where are the opportunities, where are the risks and what lies ahead?

Covered in this report

The numbers say that unemployment is down, GDP (Gross Domestic Product) is up, and consumer confidence is only down slightly compared to last year at this time. Economists would say that the economy is doing well. So then why is there still such hesitation? Today’s culture seems to tell a tale of two forces – one of facts and one of feelings. The numbers say that the economy has recovered from the Great Recession of 2008, but how do consumers feel? The vast majority of consumers feel that their current financial situation is healthy or OK (see Current Financial Situation), but those making less than $50,000 per year are less confident about their finances. When asked about the economy in the coming year, only 29% of consumers think that it will remain strong (see Opinions on the Economy). Consumers are hedging their bets and remaining cautious about the future.

Expert analysis from a specialist in the field

Written by Jennifer White Boehm, a leading analyst in the Financial Services sector, her extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.

The majority of consumers consider their finances to be healthy, and views of the future seem to be positive as well. Consumers are saving for the future, but are still willing to treat themselves Jennifer White Boehm
Associate Director - Financial Services & Automotive

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What's included

What's included

Table of contents

Table of contents

  1. Executive Summary

    • Top takeaways
      • Consumers are contradictory – want to both save and treat themselves
        • Non-essential spending remains non-essential
          • Consumers are not incredibly confident about the future of the economy
          • State of the Economy

            • Economic overview
              • Figure 1: Key economic indicators as of November 2019
            • Unemployment hovering around 3-4%
              • Figure 2: Unemployment and underemployment, January 2009-October 2019
            • Consumer confidence not solely connected to unemployment
              • Figure 3: Consumer confidence and unemployment, 2000 – October 2019
              • Figure 4: Consumer Sentiment Index, January 2009-November 2019
            • GDP growth reflects positive advance for economy
              • Figure 5: GDP change from previous period, Q1 2009-Q3 2019
            • Yield curve dips, but quickly recovers – signaling the possibility of a slight recession
              • Figure 6: Yield curve, 2013-19
          • Current Financial Situation

            • Consumers heading into 2020 with healthy finances
              • Figure 7: Current financial situation, November 2019
            • Consumer outlook on finances remains strong
              • Figure 8: Current financial situation, Q1 2017–Q3 2019
            • Older consumers feel the most stable, but generally “OK” prevails
              • Figure 9: Current financial situation, by gender and age, November 2019
          • Using Extra Money

            • Consumers are both saving and treating themselves
              • Figure 10: Using extra money, November 2019
            • Younger consumers are more self-interested; older look to the future
              • Figure 11: Using extra money, by age and gender, November 2019
          • Spending Cuts

            • Personal treats are the first expense to be cut
              • Figure 12: Spending cuts after income loss, November 2019
            • Women more likely to sacrifice, while men are more split
              • Figure 13: Using extra money, November 2019
          • Finances after Job Loss

            • Nearly 30% of consumers would significantly struggle after six months without work
              • Figure 14: Financial situation after job loss, November 2019
            • Women more likely to feel they’re struggling after extended unemployment
              • Figure 15: Financial situation after job loss, by age and gender, November 2019
          • Opinions on the Economy

            • Consumers waver on confidence to survive loss of income
              • Figure 16: Thoughts on the current economy, November 2019
            • Younger consumers more susceptible to economic job loss
              • Figure 17: Effects of recession on employment and savings, November 2019
            • Men are more confident in the future economy than women
              • Figure 18: Economic predictions, by age and gender, November 2019
          • Appendix – Data Sources and Abbreviations

            • Data sources
              • Consumer survey data
                • Abbreviations and terms
                  • Abbreviations
                    • Terms

                    About the report

                    This report will give you a complete 360-degree view of your market. Not only is it rooted in robust proprietary and high-quality third-party data, but our industry experts put that data into context and you’ll quickly understand:

                    • The Consumer

                      What They Want. Why They Want It.

                    • The Competitors

                      Who’s Winning. How To Stay Ahead.

                    • The Market

                      Size, Segments, Shares And Forecasts: How It All Adds Up.

                    • The Innovations

                      New Ideas. New Products. New Potential.

                    • The Opportunities

                      Where The White Space Is. How To Make It Yours.

                    • The Trends

                      What’s Shaping Demand – Today And Tomorrow.

                    Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted.

                    Description