LOS ANGELES, June 14 /PRNewswire/ -- PriceGrabber.com®, a part of Experian, has just released its most recent Consumer Behavior Report, U.S. Shopping Behavior in this Economic Climate. This report includes survey results from PriceGrabber.com's 2010 Consumer Spending Survey (Feb. 8–25, 2010; 1,980 respondents) and its 2009 Online Consumer Confidence Survey (Feb. 10–March 9, 2009; 4,239 respondents).
"The results of our recent consumer spending survey demonstrate a lift in consumer sentiment," stated Laura Conrad, president of PriceGrabber.com. "While many respondents are still currently spending less than they were at the start of the recession, the data on planning for big-ticket purchases and increased consumer spending support consumer expectations of a 2010 economic turnaround."
Even though many economists have stated the recession is over, most consumers surveyed believe the end of the recession is in sight (page 5):
- 52 percent of consumers surveyed believe the recession will end before January 2012
- The employment groups most optimistic about the end of the recession are full-time employees and students
- 57 percent of urban residents believe the recession will end by January 2012
- 44 percent of rural residents believe the recession will end by January 2012
Consumers plan to increase their spending later in 2010 (page 8):
- When comparing spending habits in the beginning of the recession with current spending habits, 65 percent of consumers are spending less now than at the start of the recession in December 2007, while 6 percent indicated they are spending more
- Moving forward in 2010, plans to spend are moving in a positive direction; fewer consumers (47 percent) are planning to spend less now compared with the start of the recession in December 2007, while twice as many consumers (12 percent) plan to spend more
Many consumers already have purchased a big-ticket item in 2010 (page 10):
- 56 percent of those surveyed already have purchased a big-ticket item in 2010
- The PriceGrabber.com big-ticket categories showing the most growth, in terms of shopping referrals to merchants, include Portable Fitness Equipment (increased 65 percent), Tires and Wheels (increased 46 percent) and Loose Diamonds (increased 36 percent)
Consumers plan to purchase a variety of big-ticket items in 2010 (page 11):
- In early 2010, 35 percent of consumers purchased a big-ticket electronic product, and 24 percent said they have plans to purchase one in the next six months
- 19 percent of consumers already have made a big-ticket home improvement purchase, and 16 percent are planning to make one in the next six months
- Other big-ticket purchases on consumers' shopping lists include items for their kitchens (11 percent) and laundry rooms (5 percent), as well as indoor furniture (11 percent) and outdoor equipment (11 percent)
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PriceGrabber.com, a part of Experian, is a leading online shopping site with more than 23 million unique shoppers monthly. At PriceGrabber.com, savvy shoppers can instantly find and compare millions of unique products and services across 25 categories with more than 11,000 merchants. Compare products side by side to find the right retailers at the best prices within popular categories, such as Digital Cameras, Electronics, Computers, Clothing, Books, TVs and more. PriceGrabber.com provides shoppers with the right product from the right merchant at the best price anytime, anywhere. Visit us at http://www.pricegrabber.com.
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