Consumer Spending on Non-​Essentials Predicted to Fall

As marketers plan their ad budgets for the next six months, they might want to consider the results of the most recent poll released by Harris Interactive. Despite the glimmer of good news from recent stock markets gains, a leading indicator, consumers remain concerned about employment prospects. These concerns are revealed in the way consumers plan to handle their cash from 653306_brown_wallet_1now through Spring 2010.

Here are two top statistics from the survey:

  • Percentage of consumers who plan to decrease spending on restaurants: 67%
  • Percentage of consumers who place to decrease spending on entertainment: 67%

The cautious behavior extends to large ticket items as well, with the following percentages of consumers calling these expenditures Not Likely:

  • New computer purchase 81%
  • Move to a new residence 86%
  • Buy/​lease a new car 90%
  • Buy a boat or RV 96%

Given these statistics, marketers will probably continue to develop value campaigns to lure budget-​conscious consumers.

[Source: Harris Interactive release, 9.23.09]
Kathy Crosett
Kathy is the Vice President of Research for SalesFuel. She holds a Masters in Business Administration from the University of Vermont and oversees a staff of researchers, writers and content providers for SalesFuel. Previously, she was co-​owner of several small businesses in the health care services sector.