06.02.10
SymphonyIRI just completed a 2010 Summer Rituals Survey and found that American consumers plan to enter the 2010 summer season with a conservative spending mindset compared to a more optimistic outlook expressed by consumers in the summer of 2009. This year, they are more apprehensive and are selectively keeping their wallets closed to “extras” and cautiously open for essentials. Among the survey's findings:
• 57% of consumers in the lower-income brackets plan to spend significantly less or not spend any money on vacations in 2010, a 15-point increase over 2009.
• Other income groups also plan to tighten or completely eliminate their vacation budgets this year.In households earning $35,000-$54,999, 46% plan to reduce or completely eliminate their vacation budget in 2010, while 38% of households earning $55,000-$99,999 have the same plans.
• Even those well off (earning $100,000 or more) are quite conservative this year. While 34% of these households will reduce vacation spending this year, 12% of consumers within this income group plan not to spend for vacation at all in 2010. In 2009, no one surveyed from this income group said they will spend nothing at all on vacation.
More info: www.SymphonyIRI.com
• 57% of consumers in the lower-income brackets plan to spend significantly less or not spend any money on vacations in 2010, a 15-point increase over 2009.
• Other income groups also plan to tighten or completely eliminate their vacation budgets this year.In households earning $35,000-$54,999, 46% plan to reduce or completely eliminate their vacation budget in 2010, while 38% of households earning $55,000-$99,999 have the same plans.
• Even those well off (earning $100,000 or more) are quite conservative this year. While 34% of these households will reduce vacation spending this year, 12% of consumers within this income group plan not to spend for vacation at all in 2010. In 2009, no one surveyed from this income group said they will spend nothing at all on vacation.
More info: www.SymphonyIRI.com