Riedel Marketing Group: Consumers More Confident About Money
December 13, 2012,
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.
"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.
Other Articles By Author
Von Tobel Cites Brass Textures Among Top Trends
HFN's DIGITAL EDITION
2017 State of the Industry Report
Cautious Optimism, Mixed Results
Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.
ALSO IN THIS ISSUE:
- TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
- Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
- N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.