Welcome!

News Feed Item

Signs of Optimism - or at least, Acceptance - in American Spending Trends

Small and big ticket spending indicators up, in conjunction with diminished pessimism toward household financial prospects

NEW YORK, Jan. 22, 2014 /PRNewswire/ -- As 2014 approaches the end of its first month, many Americans are still sorting out their financial plans for the near future. With the government actually open for business – an improvement over last October – it should be a foregone conclusion that Americans may be facing the future with a bit more spring in their spending plans than in September of 2013, when the much-discussed federal shutdown was looming. But what about year over year? Are Americans loosening their purse strings or doubling down on pinching pennies?

(Logo:  http://photos.prnewswire.com/prnh/20100517/NY06256LOGO )

These are some of the results of The Harris Poll® of 2,311 adults surveyed online between December 11 and 17, 2013 by Harris Interactive. Results are compared, where appropriate, to both September 2013 findings (just prior to the aforementioned shutdown) and November of 2012 (just over one year earlier). (Complete findings, including data tables, can be found here)

Big ticket attitudes bounce back
Americans are less likely than in September to say that they plan on decreasing their spending on eating out at restaurants (55%, down 7 points) and reducing spending on entertainment (52%, down 9 points) within the next six months.

On the other hand, U.S. adults are more likely to say they will save or invest more money within the next six months (58%), when compared to both last September (up 11 points) and the previous November (up 8 points). Americans are also more likely to say that they will take a vacation away from home lasting longer than a week (38%, up 11 points from Sept. 2013 and 9 points from Nov. 2012) and that they will have more money to spend the way they want (38%, up 10 and 8 points, respectively).

Rural Americans seem less optimistic than their urban and suburban counterparts: they are less likely to say they anticipate saving or investing more money (50% rural vs. 60% urban and 60% suburban), taking a vacation away from home lasting longer than a week (30% vs. 39% and 41%, respectively), and having more money to spend the way they want (28% vs. 41% and 40%, respectively).

Small ticket spending plans also on the rise
There are signs of growth in small ticket expenditures as well, with modest year over year drops in going to the hairdresser/barber/stylist less often (34%, down 4 points from Nov. 2012), cancelling one or more magazine subscriptions (24%, down 3 points) and cutting down on dry cleaning (15%, down 3 points) over the past six months.

More prevalent are changes vs. last September, with results again indicating Americans are making fewer spending sacrifices:

  • Going to the hairdresser/barber/stylist less often (34%, down 7 points)
  • Cancelled or cut back cable television (21%, down 6 points)
  • Cut down on dry cleaning (15%, down 5 points)
  • Purchasing more generic brands (58%, down 4 points)
  • Brown bagging lunch instead of purchasing it (42%, down 4 points)
  • Switched to refillable water bottle instead of purchasing bottles of water (33%, down 4 points)
  • Cancelled one or more magazine subscriptions (24%, down 4 points)

Is "not getting worse" good enough?
It's tempting to look at these small and big ticket indicators as signs that American attitudes toward the economy are improving – and this is true, up to a point. Over two in ten Americans (22%) expect their household's financial condition to improve in the next six months; this is comparable to a year prior (23%).

However, more notable is a trend away from the expectation that Americans' household financial conditions will get worse, which at 27% is down 5 points from a year ago. Expectation that it will remain the same, at 51%, is up 7 points.

These attitudinal shifts, coupled with recent and planned spending trends, may be indicating that Americans feel they have cut back enough, and that if things aren't going to get better for them any time soon, then they'll at least settle for things not getting any worse.

To see other recent Harris Polls, please visit the Harris Poll News Room.

Want Harris Polls delivered direct to your inbox? Click here!

Methodology
This Harris Poll was conducted online within the United States between December 11 and 17, 2013 among 2,311 adults (aged 18 and over). Figures for age, sex, race/ethnicity, education, region and household income were weighted where necessary to bring them into line with their actual proportions in the population. Propensity score weighting was also used to adjust for respondents' propensity to be online.

All sample surveys and polls, whether or not they use probability sampling, are subject to multiple sources of error which are most often not possible to quantify or estimate, including sampling error, coverage error, error associated with nonresponse, error associated with question wording and response options, and post-survey weighting and adjustments. Therefore, Harris Interactive avoids the words "margin of error" as they are misleading. All that can be calculated are different possible sampling errors with different probabilities for pure, unweighted, random samples with 100% response rates. These are only theoretical because no published polls come close to this ideal.

Respondents for this survey were selected from among those who have agreed to participate in Harris Interactive surveys. The data have been weighted to reflect the composition of the adult population. Because the sample is based on those who agreed to participate in the Harris Interactive panel, no estimates of theoretical sampling error can be calculated.

These statements conform to the principles of disclosure of the National Council on Public Polls.

The results of this Harris Poll may not be used in advertising, marketing or promotion without the prior written permission of Harris Interactive.

The Harris Poll® #7, January 22, 2014

By Larry Shannon-Missal, Harris Poll Research Manager

About Harris Interactive
Harris Interactive is one of the world's leading market research firms, leveraging research, technology, and business acumen to transform relevant insight into actionable foresight. Known widely for The Harris Poll®, Harris offers proprietary solutions in the areas of market and customer insight, corporate brand and reputation strategy, and marketing, advertising, public relations and communications research across a wide range of industries. Additionally, Harris has a portfolio of multi-client offerings that complement our custom solutions while maximizing a client's research investment. Serving clients worldwide through our North American and European offices, Harris specializes in delivering research solutions that help our clients stay ahead of what's next. For more information, please visit www.harrisinteractive.com.

Press Contact:
Corporate Communications
Harris Interactive
212-539-9600
[email protected]

SOURCE Harris Interactive

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, discussed how VPaaS enables you to move fast, creating scalable video experiences that reach your aud...
Regulatory requirements exist to promote the controlled sharing of information, while protecting the privacy and/or security of the information. Regulations for each type of information have their own set of rules, policies, and guidelines. Cloud Service Providers (CSP) are faced with increasing demand for services at decreasing prices. Demonstrating and maintaining compliance with regulations is a nontrivial task and doing so against numerous sets of regulatory requirements can be daunting task...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Get deep visibility into the performance of your databases and expert advice for performance optimization and tuning. You can't get application performance without database performance. Give everyone on the team a comprehensive view of how every aspect of the system affects performance across SQL database operations, host server and OS, virtualization resources and storage I/O. Quickly find bottlenecks and troubleshoot complex problems.
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
"MathFreeOn.com is a line coding platform for engineers and scientists. When they want to solve an engineering problem and they have to use software - they have to pay a lot of money for licenses - but with MathFreeOn you don't have to pay a lot of money. Just go to our site and write the code and you can check the result right away," explained Simon Lee, CMO of MathFreeOn, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Cla...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fran...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Infrastructure is widely available, but who’s managing inbound/outbound traffic? Data is created, stored, and managed online – who is protecting it and how? In his session at 19th Cloud Expo, Jaeson Yoo, SVP of Business Development at Penta Security Systems Inc., discussed how to keep any and all infrastructure clean, safe, and efficient by monitoring and filtering all malicious HTTP/HTTPS traffic at the OSI Layer 7. Stop attacks and web intruders before they can enter your network.
The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Dave McCarthy, Director of Products at Bsquare Corporation; Alan Williamson, Principal...
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...