AnyCodes Releases Retail Forecast for 2014: US Consumer Confidence Climbs and 4 in 10 Plan to Spend More Online
SAN FRANCISCO, Jan. 23, 2014 /PRNewswire/ -- Shoppers will continue to be cautious in their spending in 2014, and they expect to make more money, save more money and afford the things they need, according to an analysis by AnyCodes.com, the rising star in the U.S. coupon industry. That's because of a combination of three factors: their confidence in the future climbs, they are focused on investing in themselves and paying off debt, and they are much confident about their job prospects. As a result, they intend to shop the same amount or more in 2014 versus the prior year, but will find value in the money they do spend, stretching every dollar as far as possible.
Confidence in the Future Climbs
Six years after the recovery began, over 40% of shoppers are confident or very confident about the future, according to a survey by the National Retail Federation. This is much better than a year ago, when 32% felt that way. Here's why:
- Nearly 6 in 10 focus on what they NEED rather than what they WANT.
- Slightly less than 5 in 10 have become more practical and realistic in their purchases.
- More than a third (39%) have become more budget conscious.
- Low prices, discounts and coupons continues and 8 in 10 use coupons when shop.
- As rates rise in 2014, they will be more likely to pay off debt altogether.
"We are aware of the economical situation in US and know that most shoppers will still be on a tight budget," says AnyCodes.com's CEO. "This is why we've made it our top priority to try and find the best coupons and deals for our users, and try our best to help them save money."
Focused on Investing in Themselves and Plan to Spend More Online
Shoppers will continue to be conservative with their credit cards in 2014. Thanks to historically-low interest rates, they are more likely to take out school loans to invest in their future. According to the Federal Reserve's Consumer Credit Report, Americans owe nearly three times as much on their loans ($2.2 trillion) as they do on their credit cards ($856 billion). Nearly half of this debt ($1.2 trillion) is for education loans. Shoppers are taking advantage of these low rates while they last. As rates rise in 2014, they will be more likely to pay off debt altogether.
According the survey, about 37% of shoppers describe themselves as spenders, not savers. And they will continue take advantage of the convenience & low prices of ecommerce to spend the same amount or more in 2014.
More Confident About Job Prospects
After four years of a fragile and uneven recovery, the U.S. job machine is likely to kick into high gear in 2014. The U.S. economy is projected to generate 2.6 million jobs in 2014, and the unemployment rate will drop to between 6.3 - 6.6% by the end of the year. According to the monthly Consumer Confidence Survey®, conducted for The Conference Board by Nielsen, a leading global provider of information and analytics around what consumers buy and watch, consumers anticipating more jobs in the months ahead increased sharply to 17.1% from 13.1%. And those anticipating fewer jobs decreased to 19.0% from 21.4%.
To make matters better, about 15.3% thought their incomes would increase, and those expecting a decrease in their incomes declined to 14.0%from 15.5%. Similarly, consumers' appraisal of the job market was also more upbeat. Those saying jobs are "plentiful" increased, from 12.0% to 12.2%, while those saying jobs will be hard to get decreased, from 34.1% to 32.5%. Overall, there's more optimism about business conditions over the next six months. More shoppers expected conditions to improve (17.2%) than worsen (14%).
Finding Value Online
In 2014, shoppers will look for the best values online. The convenience & low prices of ecommerce, and the use of coupons, has doubled sales in just eight years. Since 2006, online sales have risen from just under 3% to nearly 10% of total retail sales, according to the U.S. Commerce Department's report for October-December 2013. "New Year, new you! Everyone makes New Year's Resolutions and so do we," says AnyCodes.com's marketing manager. "Our goal is try our best to help more and more shoppers to save, and try to help them live an easier life. We are proud of what we are doing now!"
AnyCodes is a website devoted to helping shoppers save time and money by using online coupon codes and discounts. The site compiles free online coupons, deals, and special offers from thousands of merchants, giving shoppers the opportunity to save money on just about anything they're planning to buy. Want shopping on the go? Try AnyCodes Coupon App for iPhone and Android. For more information on AnyCodes and to view thousands of online coupon codes and discounts, please see: www.AnyCodes.com.
For international shopping, please visit Anycodes' sister sites: HalfDiscount.com for vouchers in United Kingdom, OzSavings.com for voucher codes in Australia, and YesSavings.ca for coupons in Canada.
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