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BizReport : Internet : June 15, 2010


PriceGrabber: Optimistic consumers believe end is nigh

Many believe the world will end in 2012, while others believe that it's the recession that will end that year, according to a new Consumer Behavior Report from PriceGrabber.com.

by Helen Leggatt

Over half (52%) of the 6,200 or so consumers PriceGrabber.com surveyed earlier this year are optimistic that the recession will be over at some point next year before January, 2012.

Many (65%) consumers are spending less now than at the start of the recession in December 2007, while 6% said they are spending more. However, plans to increase spending indicate an optimistic outlook for 2010 with fewer consumers (47%) planning to spend less than at the start of the recession and 12% intending to spend more.

Additional findings (.pdf) include:-

- 56% of those surveyed already have purchased a big-ticket item in 2010.

- The big-ticket categories showing the most growth, in terms of shopping referrals to merchants via PriceGrabber.com, include Portable Fitness Equipment (up 65%), Tires and Wheels (up 46%) and Loose Diamonds (up 36%).

- In early 2010, 35% of consumers purchased a big-ticket electronic item, and 24% said they have plans to purchase one in the next six months.

- 19% of consumers already have made a big-ticket home improvement purchase, and 16% are planning to make one in the next six months.

- 44% of consumers said they have been spending more time using the Internet as a result of the recession as compared to 25% in 2009.

- This year, 59% of consumers spend more time online comparing prices and 55% spend more time shopping/researching online as compared to last year, 40% and 26% respectively.

Full-time employees and students were the most optimistic groups that believed the recession will end by 2012, while urban residents were more optimistic than their country cousins (57% vs. 44%).






Tags: consumer spending, recession








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