Riedel Marketing Group: Consumers More Confident About Money
PHOENIX-For the first time since the recession began in 2008, American consumers are finally starting to feel a little better about money and what the future may hold.
According to Riedel Marketing Group's tenth annual Housewares TrendTracker report, almost a quarter of the respondents to the June 2012 survey reported that they were less worried about money and what the future may hold than they had been the previous year, up from 13 percent in 2011.
"This marks the first time in the four years we've been tracking consumer attitudes towards money and the economy that we've seen an increase in the percent of respondents who report that they are less worried about money than they were the previous year," said A.J. Riedel, senior partner of Riedel Marketing Group.
"There are a number of reasons these consumers are less worried about money and what the future may hold," she said. "Some are doing better financially and feel that they have more job security than they did last year. Others have more money than they did last year because they got a job or a promotion, because they have been able to save some money, or because they have paid down debt or refinanced their mortgage. Still others are small business owners who have seen their businesses start to pick up."
Riedel identifies the consumer trends that will be impacting the housewares industry by monitoring her company's proprietary HomeTrend Influentials Panel. HomeTrend Influentials (HIPsters) tend to be two to five years ahead of the mainstream population on important new trends. Looking at what HIPsters are feeling, thinking, doing and buying today provides insight into what the mainstream population will be feeling, thinking, doing and buying in a year or two.