While there’s no question that the economy continues to expand, certain indicators are sending chills down economists’ spines – and the latest Consumer Confidence Index is one of those indicators. According to the latest data from The Conference Board (TCB), the Consumer Confidence Index (CCI) declined in November in a sign that consumers’ attitudes about the economy are turning cold.
In spite of the fact that the economy is continuing to grow as it powers away from the days of COVID shutdowns, a preliminary November reading of consumer sentiment shows a dramatic drop to a 10-year low, as consumers fret about growing inflation. While economists have long warned that transitory inflation would be a temporary part of our overall economic recovery, consumers are clearly concerned that this inflation may be hanging around for a while and it is already crimping their lifestyle.
Learn what the University of Michigan chief economist had to say about this result[Read more…] about Inflation Impact: November Consumer Sentiment Drops to 10-Year Low
Last Friday, Amazon founder and now former CEO Jeff Bezos woke up the richest man in the world. He has been the richest man in the world for quite some time now. Yet when he went to bed Friday evening, he was no longer. And the reason that’s so should serve as a warning to you and all of us in the tech biz in 2021.
See why you should take warning from the Jeff Bezos situation[Read more…] about Amazon Founder Bezos No Longer the World’s Richest; You Should Be Concerned
In 2020, the year of COVID-19, there was much death and devastation in the U.S. and around the world. But one business segment soared during the pandemic as a result of local municipalities and states around the country putting their citizens into 24/7 lockdown at home – and that business was eCommerce. With in-person retail stores closed by local government orders, consumers had no option but to shop online to obtain the things they needed.
So what do experts expect will happen to the growth rate for eCommerce in 2021, now that all states have removed most or all of their restrictions and in-person retail stores are all open for business? You might be surprised…
See the latest forecast for eCommerce growth & Total Retail growth in 2021…[Read more…] about After Strong 2020, Researchers Project Further eCommerce Growth in 2021
In new data from market researcher eMarketer, we learn more details on just how well e-commerce sales are doing both overall and for specific players such as Target and Amazon. It is pretty well known that as the pandemic rolled out in early Spring of 2020, Americans were thrust into quarantine and a 24/7/365 existence at home. This caused many to order their supplies from online retailers, even those consumers who had not previously ever purchased online before. Clearly, COVID was horrible for America (and the world) but good for the e-commerce business.
All online retailers did well, with companies like Walmart and Target seeing their e-commerce operations really gain some traction. But did some do better than others? Oh yeah…
See more on the current state of Amazon and e-commerce[Read more…] about How Big is Amazon in E-Commerce? Bigger Than You May Realize
>Learn How to Improve Consumers’ Trust in Your Brand
Many political observers have declared the end of bi-partisanship, as the political right and left seem further apart than ever before in the history of the country. Yet there is one area where both parties agree, it is time to rein in the big tech players. Ironically, in a new poll of the 15 most trusted brands in the world, we find a lot of tech represented – including some of the Big Tech players. Is Congress out of step with the American people? And how important is “trust” to a company or brand anyway?
See the most trusted brands & how to improve yours…[Read more…] about Congress Prepares to Regulate Big Tech, Yet They Top ‘Most Trusted Brands’ Poll
Whether you are a manufacturer designing tech gear for the residential market, or an integrator designing systems for your client’s homes, it can be helpful to better understand how they wish to use the gear or systems to consume media content. New statistical research shows that – no surprise – the average daily time U.S. consumers spent consuming media hit an all-time high in 2020…the year of COVID-19. You probably already knew this fact or at least suspected it to be the case. Now the data is in and between digital media and traditional media, the average consumption moved up by almost an extra hour a day.
But what you likely don’t know is – which specific media category saw increased use, which specific media category saw decreased use? And, most importantly, what happens now?
See the latest data forecasting of consumer media consumption…[Read more…] about US Consumer Media Usage Hits All-Time High in 2020; What Happens Now?
What a Difference a Year Makes!
New research from global researcher IPSOS and published by Quirks shows Americans are anxiously anticipating the post-pandemic period with a strong desire to reconnect with a ‘normal’ lifestyle. What do they crave? In some cases, the answer to that is predictable – and in other cases the answer is a surprise. But I found one thing interesting, the mood of their answers changes dramatically when Americans are asked about the topic of returning to work.
See the latest data on Americans expectations for the new ‘normal’[Read more…] about New Insights on Americans Expectations for Post-Pandemic Life & Work
The 2nd Month of Decline; Is Housing Turning?
In the latest government data on new residential construction, housing starts dropped in February by 10.3%. This is the second month-in-a-row that starts dropped, after falling 6% overall in January.
So what do analysts think this downward cycle means? Is the housing construction segment beginning a period of contraction?
See what is happening in housing starts…[Read more…] about February Housing Starts in Double-Digit Drop
A new Axios-Ipsos poll has shown a marked turn towards more consumer optimism in American’s attitude about the condition of their lives under COVID. They are becoming dramatically more hopeful as the administration takes actions to step-up the availability of vaccines.