866-997-4948(US-Canada Toll Free)

CONSUMERS AND THE ECONOMIC OUTLOOK - US - JULY 2018

Published By :

Mintel

Published Date : Jul 2018

Category :

Lifestyle

No. of Pages : N/A

Consumers remain confident in their financial health and anticipate little change in the coming year, resulting in stable patterns of financial opinions and behaviors. Consumers hope to save for the future while also maintaining spending levels that accommodate their current lifestyle. This Report looks at the role credit score plays in consumer attitudes and behaviors to highlight opportunities to reach consumers based on this measure. Those with self-described higher credit scores are more comfortable with spending, while those with lower scores are trying to save and potentially build their credit up to higher levels.

Table of contents
EXECUTIVE SUMMARY
Overview
In focus: credit score
Figure 1: Total consumer debt, by debt type, Q2 2018
Figure 2: Self-reported credit score, May 2018
Consumers with higher credit typically make more, have higher education
Figure 3: Self-reported credit score segmentation, May 2018
STATE OF THE ECONOMY
Economic indicators mostly unchanged from Q2 2018
Figure 4: Key economic indicators, June 2018
Consumer confidence dips, but remains high
Figure 5: Consumer Sentiment Index, January 2017-May 2018
Unemployment and DPI change by less than 1%
Figure 6: Disposable Personal Income and unemployment rate, January 2018-April 2018
CURRENT FINANCIAL SITUATION
Nearly 8 in 10 consider their financial situation to be fine
Figure 7: Opinion of current financial situation, May 2018
Consumer optimism remains high
Figure 8: Opinion of current financial situation, Q1 2017-Q2 2018
Excellent credit score reveals confidence in financial situation
Figure 9: Opinion of current financial situation, by credit score, May 2018
CHANGES IN FINANCIAL WELLBEING
Highest number of consumers see no change in financial wellbeing
Figure 10: Potential for changes in financial wellbeing, May 2018
Financial wellbeing remains steady
Figure 11: Potential for changes in financial wellbeing, Q1 2017-Q2 2018
Consumers with low credit see greatest potential for moderate changes
Figure 12: Potential for changes in financial wellbeing, by credit score, May 2018
IMPROVING FINANCES
Saving continues to be the most important for economic improvement
Figure 13: Factors to improve financial situation, May 2018
Importance of job stability falls, while generating supplemental or higher-income increases
Figure 14: Top factors to improve financial situation, job stability, and supplemental income, Q1 2017-Q2 2018
Consumers with lower credit scores place more value in working hard
Figure 15: Opinion of current financial situation, by credit score, May 2018
HOW MONEY IS SPENT
Consumers both spend and save in almost equal measure
Figure 16: How money is spent, May 2018
Spending, saving behaviors remain consistent
Figure 17: How money is spent, Q1 2017-Q2 2018
Past three-month approach to debt differs by credit score
Figure 18: How money is spent, done in the past three months, by credit score, May 2018
Looking forward, top-tier credit plans to spend, while average credit plans to save
Figure 19: How money is spent, done in the past three months, by credit score, May 2018
APPENDIX – DATA SOURCES AND ABBREVIATIONS
Data sources
Consumer survey data
Abbreviations and terms
Abbreviations

Make an enquiry before buying this Report

Please fill the enquiry form below.

  • Full Name *
  • Your Email *
  • Job Title
  • Company
  • Phone No. * (Pls. Affix Country Code)
  • Message
  • Security Code *