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Friday, November 06, 2015

What America Thinks: Consumer Spending Update - Consumers May Be Preparing for Holiday Shopping

It’s beginning to look a lot like Christmas – at least as far as consumer spending is concerned.

The latest Rasmussen Reports Consumer Spending Monitor shows that consumers are optimistic about their upcoming spending, perhaps already planning for their holiday purchases. The index of anticipated spending on household items including electronics, appliances and furniture took the biggest leap, jumping 14 points to 108.0. Last year at this time, this index rose only one point from the previous month. Planned purchases on clothing, footwear and accessories have climbed a modest four points to 112.8, but this also compares to just a one-point increase month-over-month at this time in 2014.

Interestingly, the index of home improvement spending also indicates that consumers plan on spending more on things like remodeling, painting and landscaping at home. Although these results are higher than what we have seen in recent months, they are still well below the highs that we typically see in the spring.

Despite what looks like early holiday spending, it’s still safe to head to the mall or other retail establishments. While more than half of consumers say they will go to a retail store to make their purchases, a sizable 30% will be doing their spending through their computers or mobile devices.

For more information on Rasmussen Reports’ consumer spending data, please send e-mail to info@rasmussenreports.com