Schaumburg, Ill., Dec. 23, 2008 — Consumer confidence and spending began slowing as early as Spring 2007, according to a recent analysis by Experian Marketing Services, a part of global information company Experian. The analysis, based on data from Experian® SimmonsSM and Experian Hitwise®, found that from Spring 2007 to Summer 2008, the percentage of U.S. adults who felt they would be financially better off in the next year dropped considerably from 46 percent to 37 percent.
The analysis, which compared the self-reported economic confidence and spending habits of adult Americans along with online site traffic and searches on major purchase items, revealed consumer behaviors to be a strong indicator of a downturn months before the current economic crisis. Not only did the percentage of confident consumers slump, but the number of adults who felt they would be worse off in the coming year grew by 9 percent to 22 percent.
“Our data shows a clear indication that the preferences and behaviors of consumers trended toward a slowdown well before the economic woes experienced over the past few months,” said Joe Paulsen, general manager of Consulting and Analytics for Experian Marketing Services. “Having this level of insight into the confidence levels and buying behaviors of consumers is critical for businesses seeking to better understand and communicate with their customers during challenging economic times.”
The analysis also found that:
Experian Simmons and Experian Hitwise are a part of Experian Marketing Services. Experian Simmons is a full-service market and consumer research organization dedicated to enabling clients to optimize communications with their customers and prospects across multiple channels by providing a robust description of the American consumer. Experian Hitwise is the leading online competitive intelligence service, providing its 1,500 clients around the world with daily insights on how their customers interact with more than 1 million competitive Web sites and how their competitors use different tactics to attract online customers.
Experian is a global leader in providing information, analytical and marketing services to organizations and consumers to help manage the risk and reward of commercial and financial decisions.
Combining its unique information tools and deep understanding of individuals, markets and economies, Experian partners with organizations around the world to establish and strengthen customer relationships and provide their businesses with competitive advantage.
For consumers, Experian delivers critical information that enables them to make financial and purchasing decisions with greater control and confidence. Clients include organizations from financial services, retail and catalog, telecommunications, utilities, media, insurance, automotive, leisure, e-commerce, manufacturing, property and government sectors.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Experian has corporate headquarters in Dublin, Ireland, and has operational headquarters in Costa Mesa, Calif., and Nottingham, UK. The Group employs approximately 15,500 people in 38 countries worldwide, supporting clients in more than 65 countries around the world. Continuing sales for the year ended March 31, 2008, were in excess of $4 billion.
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