Total Market Consumer Sentiment
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How do Total Market consumers feel? We conducted a nationwide study to discover their feelings about the economy, their financial situations, and a few of their spending plans. Take a look at what we learned.
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Total Market Consumer Sentiment
- 3. Methodology
- 4. Methodology Method Online survey via ThinkNow Research’s Omnibus Study Sample Size Hispanics: n=611 White: n=317 African-American: n=302 Asian: n=306 Screening Criteria • Hispanics: self identify as Hispanic origin • Non-Hispanics: self identify as White, African-American, Asian • 18-64 years of age Quotas/ Weighting Quotas: • Age bracket • Gender balance • Region • Primary language spoken at home (Hispanics only) Some light weighting applied to balance samples to U.S. Census data with respect to age, gender and region. Test Area Nationwide Fieldwork Timing January, 2015
- 6. Hispanics are noting a significant improvement in their finances compared to last year. African Americans and Asians are on par with Hispanics reporting their finances have improved. Recent Trend in Household Finances
- 7. Base: All Respondents Hispanics (n=611), Whites (n=317), African Americans (n=302), Asians (n=306) Recent Trend in Household Finances 47%B 34% 12% 32% 44%AC 22%A 49%B 33% 14% 43%B 39% 14% Improved Stayed the same Worsened Hispanic (A) White (B) African American (C) Asian (D) Letters indicate statistically significant difference (95% confidence) +20% from 27% in 2014 Thinking of all of the sources of income that contribute to your household , compared to this same time last year would you say your household financial situation has:
- 8. Hispanics are more optimistic about family finances for 2015 than they were last year about finances for 2014. Non-Hispanic Whites and Asians equally report their optimism for 2015 with 47% saying they believe finances will be “better than 2014.” Outlook for Household Finances
- 9. Outlook for Household Finances 56%B 29%C 6% 47% 37%C 7% 64%AB 23% 4% 47% 36%C 8% better than 2014 about the same as 2014 worse than 2014 Hispanic (A) White (B) African American (C) Asian (D) Letters indicate statistically significant difference (95% confidence) +10% from 46% in 2014 Thinking of your own personal and your family finances for 2015, which of the following would you say best describes your feelings towards this upcoming year? Base: All Respondents Hispanics (n=611), Whites (n=317), African Americans (n=302), Asians (n=306) Acculturation Low: 56% Medium: 62% High: 44%
- 10. Hispanics were slightly more likely to have purchased tech items this past year versus the year prior. There was no significant difference in the types of purchases among the four ethnicity groups. Recent Purchases
- 11. 29% 24% 23% 21% 15% 12% 8% 30% 18% 24% 17% 12% 15% 7% 25% 22% 28% 23% 12% 12% 12% 37%C 25% 25% 23% 16% 13% 7% Smartphone with Internet New tablet New computer or laptop New home electronics Large kitchen appliance Brand new car or truck Home, condominium Hispanic (A) White (B) African American (C) Asian (D) Past Year Purchases Thinking about major purchases that people might buy for themselves or their family, have you purchased any of the following in the past 12 months? Letters indicate statistically significant difference (95% confidence) +5% from 24% in 2014 +4% from 20% in 2014 +4% from 19% in 2014 +3% from 18% in 2014 Base: All Respondents Hispanics (n=611), Whites (n=317), African Americans (n=302), Asians (n=306)
- 12. In comparison to last year, future plans for purchasing electronic devices remain unchanged for Hispanics. Non-Hispanic whites are the least likely to have plans to buy electronic devices, a new vehicle, home or condominium. Purchases Planned for Next 12 Months
- 13. 38%B 30%B 37% 35%D 26% 35%B 22%B 26% 21% 31% 28% 22% 23% 15% 42%B 29%B 40% 35% 27% 35%B 23%B 38%B 28% 41% 27% 21% 36%B 19% Smartphone with Internet New tablet New computer or laptop New home electronics Large kitchen appliance Brand new car or truck Home, condominium Hispanic (A) White (B) African American (C) Asian (D) Purchases Planned for Next 12 Months Thinking about major purchases that people might buy for themselves or their family, are you planning to purchase any of the following in the next 12 months? Letters indicate statistically significant difference (95% confidence) For Hispanics, measures remain on par compared to 2014. (+ or – 4% for any category) Base: All Respondents Hispanics (n=611), Whites (n=317), African Americans (n=302), Asians (n=306)
- 14. Although Hispanics are the group most likely to say their decision to purchase a new car or truck was ‘in whole’ to get better gas mileage, that measure dropped 10% compared to last year. New Car/Truck Purchases
- 15. New Car/Truck Purchases Base: Recently purchased/planning to purchase a vehicle. Hispanics (n=77), Whites (n=30*), African Americans (n=36*), Asians (n=44*) 67% 19% 14% 57% 30% 13% 56% 27% 17% 60% 22% 18% Yes, in whole Yes, in part No, gas mileage was not an important factor Hispanic (A) White (B) African American (C) Asian (D) Letters indicate statistically significant difference (95% confidence) *Caution, small base -10% from 77% in 2014 Was your decision to purchase a brand new car or truck motivated in whole or in part by desire to get a car that gets better gas mileage?
- 16. Hispanics are considerably more optimistic about the US economy in 2015, compared to how they felt last year about 2014. Non-Hispanic Whites are most pessimistic and more likely to say the economy will be worse in 2015 than any other group. Outlook for U.S. Economy
- 17. 46%B 32%C 10% 11% 32% 37%C 18%AC 13% 52%B 21% 10% 16%AD 46%B 33%C 11% 10% Better in 2015 About the same in 2015 Worse in 2015 Not sure Hispanic (A) White (B) African American (C) Asian (D) Outlook for U.S. Economy Thinking about the U.S. economy in general, which of the following would you say best describes your feelings about where things are headed over the next year? Letters indicate statistically significant difference (95% confidence) +9% from 37% in 2014 -6% from 38% in 2014 -4% from 14% in 2014 Base: All Respondents Hispanics (n=611), Whites (n=317), African Americans (n=302), Asians (n=306) Acculturation Low: 49% Medium: 50% High: 35%
- 18. Availability of jobs is the top concern among all groups, but it’s notably higher among African Americans. Economic Issue of Greatest Concern
- 19. Economic Issue of Greatest Concern If you were to rank the following economic issues in our economy as a whole where "1" is the issue you are currently most concerned about and "5" equals the one you are least concerned about, how would you rank the following? 33% 32% 15% 10% 9% 33% 24% 21%C 12% 9% 40% 29% 13% 11% 6% 32% 27% 16% 13% 11% Availability of jobs Rising prices National budget deficit Financial markets Housing market Hispanic (A) White (B) African American (C) Asian (D) Letters indicate statistically significant difference (95% confidence)Base: All Respondents Hispanics (n=611), Whites (n=317), African Americans (n=302), Asians (n=306)
- 20. Appendix
- 21. Metric Hispanics n=611 White n=317 African- American n=302 Asian n=306 Metric Hispanics n=611 White n=317 African- American n=302 Asian n=306 Male 51% 50% 48% 47% Born in the U.S. 67% 95% 94% 46% Female 49% 50% 52% 53% Moved here 33% 5% 6% 54% Average years living in U.S. 14 17 17 11 Age 18 to 34 47% 34% 41% 39% Household Income 35 to 64 54% 66% 58% 60% Less than $30,000 14% 9% 16% 9% Mean age 37 42 40 40 $30,000 to less than $50,000 20% 14% 22% 15% $50,000 to less than $70,000 16% 21% 15% 15% Census Region 70,000 to less than $100,000 12% 10% 9% 13% Northeast 14% 19% 17% 21% $100,000 or more 13% 28% 12% 37% Midwest 9% 26% 17% 12% Median income ($000) $43 $60 $38 $73 South 37% 35% 57% 23% West 40% 20% 9% 44% Own/Rent Own home 53% 68% 48% 63% Rent home 44% 31% 49% 35% Sample Profile
- 22. Sample Profile Metric Hispanic n=611 White n=317 African- American n=302 Asian n=306 Metric Hispanic n=611 White n=317 African- American n=302 Asian n=306 Marital Status Educational Attainment Married 48% 49% 35% 63% Less than High School 5% 5% 3% 0% Single 32% 27% 44% 26% High school graduate 21% 23% 20% 6% Living with partner 10% 12% 8% 4% Some College, but no degree 25% 25% 29% 16% Separated/divorced 9% 8% 11% 5% Trade or technical school 6% 5% 5% 3% Widowed 1% 3% 1% 1% Graduated from 2-year College 9% 10% 13% 10% Graduated from 4-5 year College 27% 21% 24% 44% Average household size 3.4 2.9 2.7 2.9 Post Graduate Degree 6% 10% 5% 20% Presence of Children Employment Status No children <18 present 46% 61% 64% 54% Employed or self employed (net) 68% 62% 58% 69% Any children <18 present 54% 39% 36% 46% Full-time Homemaker 10% 11% 9% 11% Currently unemployed 10% 12% 11% 9% Student, not employed 7% 4% 8% 5% Unable to work/Disabled 3% 5% 7% 1% Retired 2% 7% 7% 5%
- 23. Sample Profile Metric Hispanics n=611 Language Spoken at Home Spanish only 11% Spanish mostly 23% Spanish and English equally 28% English mostly 19% English only 19% Country of Origin Mexican/Mexican American 64% Puerto Rican 13% South American 11% Cuban 6% Central American 7% Dominican 4% Acculturation Less Acculturated 25% Bicultural 47% More Acculturated 27%
- 24. Contact Info Quantitative Research Carlos Yanez 818-843-0220 x110 [email protected] Qualitative Research Jairo Moncada 818-843-0220 x111 [email protected] Panel Gus Peña 818-843-0220 x107 [email protected] Corporate Mario X. Carrasco Partner 818-843-0220 x101 [email protected] Roy Eduardo Kokoyachuk Partner 818-843-0220 x102 [email protected]