Beverage News

Consumer confidence rises in Q1, survey finds

May 7, 2013
/ Print / Reprints /
ShareMore
/ Text Size+

Although U.S. consumers kept a recessionary mindset in the first quarter of 2013, they exhibited a cautious desire to spend money again, according to the Nielsen Global Survey of Consumer Confidence and Spending Intentions. The New York-based market research firm reported that 42 percent of respondents said they plan to spend money on discretionary items this year, which is a six-point rise from the fourth quarter of 2012 and an increase from the average of 33 percent during the last three years.

North America led the charge in terms of spending intentions, followed by the Asia-Pacific region, which reported an increase of 2 percentage points to 39 percent. Consumer confidence in central and northern Europe increased in the first quarter, surpassing year-ago levels. Comparatively, spending intentions declined among respondents in Latin America by 35 percent, Middle East/Africa by 33 percent, and Europe by 27 percent, according to the survey.

The Nielsen Global Survey of Consumer Confidence and Spending Intentions measures consumer confidence, major concerns and spending intentions among more than 29,000 respondents with Internet access in 58 countries.

"Buoyed by a nascent revival of the U.S. housing market, a strengthening of employment rates, and an increase in retail sales in the first quarter, Americans demonstrated an eagerness to spend again,” said Venkatesh Bala, chief economist at The Cambridge Group, a part of Nielsen, in a statement. “However, volatile economic factors, such as inflation and fuel prices, continue to affect U.S. households, which will make continued growth an ongoing challenge.”

James Russo, senior vice president of global consumer insights for Nielsen, added: “In the U.S., the increase in reported discretionary spending is not a rising tide affecting all ships. Nearly four years after the official recession hit, more than three-quarters of Americans are still feeling the effects. With close to two-thirds of Americans living paycheck to paycheck, consumers are significantly affected by continued volatile economic factors, such as job growth [and] rising food and fuel prices.”

To read the entire report, click here.

 Did you enjoy this article? Click here to subscribe to Beverage Industry.  

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

Dinner with Tequila Don Julio

Diageo is taking its Tequila Don Julio brand on the road this summer with a rolling Airstream Speakeasy mobile craft cocktail bar. The team stopped in Chicago on July 29 to share some specialty tequila cocktails paired with food from Chicago restaurants Honey Butter Fried Chicken and The Radler as well as dessert venues Black Dog Gelato and Baker Miller. (Photos by Jennifer Haderspeck)

9/17/14 2:00 pm EDT

The Path to New Product Success: Navigating the latest trends for new beverage development

By attending this webinar, you will learn about the top trends and how they fit into the CPG market, which channels are influencing new products and technology, how Packaging fits into your product development, and ways you can use innovation to increase sales.

Podcasts

Maintaining beverage dispensing equipment

Iuliana Nita, Saint-Gobain Performance Plastics global marketing manager of food and beverage, offers her insights about ensuring sanitary performance of beverage dispensing equipment in foodservice applications. She also will offer some tips about choosing the right kind of tubing to handle acidic beverages.

Beverage Industry Magazine

BI September 2014 cover

2014 September

The September 2014 Beverage Industry includes a cover story on our Wholesaler of the Year, The Odom Corp., as well as articles about single-cup and iced coffees, cconvenience store growth, vegetable flavors, and more. Check it out today!

Table Of Contents Subscribe

Beverage Insider eNewsletter

Are you an Insider? Subscribe to Beverage Industry’s weekly e-newsletter to receive news headlines, new product information and magazine highlights.   

Coffee Segments

Which coffee segment will be impacted the most by coffee bean increases?
View Results Poll Archive

THE BEVERAGE INDUSTRY STORE

cleaning-in-place-dairy-foo.gif
Cleaning-in-Place: Dairy, Food and Beverage Operations, 3rd Edition

This book addresses the principles of cleaning operations, water supply issues and the science of detergents and disinfectants.

More Products

Webinars

Beverage Industry Webinars are an easy, effective and convenient way to get educated and informed on the latest industry trends and topics. All Webinars are FREE unless indicated. For more information, check out our Events page!

STAY CONNECTED

facebook40 twitter    youtubelinkedgoogle+ icon 40px