Consumer Trends: Comfortable Living
August 2023
In 2023, we are continuing to track current consumer attitudes with our Consumer Trends Report. With a special spotlight on comfortable living, which includes, personal comfort, financial comfort, and emotional trends. Below are some results from the latest study.
Home Upgrades or Additions
Many consumers continue to have plans to conduct home upgrades or additions and are interested in a wide variety of improvement areas. Adding or upgrading in the kitchen/bath area, including major appliances, tops the list for the most common enhancements.
Technology
Americans are cautiously optimistic with their opinions regarding our society’s reliance on technology but feel that generally it’s helpful in many ways. Even so, Americans are heavily reliant on the technology they own. Cell phone ownership is universal and reliance is pervasive, with over 4 in 10 Americans saying they can’t go an hour without one and 6 in 10 indicating they can’t imagine life without one.
Financial Cutbacks & Splurges
Cutbacks due to inflation continue and mirror the same pattern over time. Eating out, a reduction in food/grocery purchasing and clothing/shoes/accessories purchasing remain the top cutbacks. Just over 4 in 10 Americans are also treating themselves with splurge purchases when they can. Interestingly, some of the top cutback areas are also the areas consumers admit to splurge spending on, such as eating out and clothing/shoes/accessories purchases, illustrating how important these spending areas are to consumers.
About Decision Analyst
Please feel free to email Bonnie Janzen or Felicia Rogers directly for additional information. Download our Consumer Trends: Comfortable Living (August 2023) Free.
Decision Analyst (www.decisionanalyst.com) is a global marketing research and analytical consulting firm specializing in strategy research, new product development, advertising testing, and advanced modeling for marketing decision optimization. For over 45 years, the firm has delivered competitive advantage to clients throughout the world in consumer-packaged goods, telecommunications, retail, technology, medical, and automotive industries.
Download a complimentary copy of the Consumer Trends: Comfortable Living.
Contact
If you have any questions about the Consumer Trends: Comfortable Living report, please contact:
Felicia Rogers
Executive Vice President
Email: frogers@decisionanalyst.com
Phone: 1-817-640-6166
Methodology
“Consumer Trends: Comfortable Living, is the most recent of study on the current consumer experience and the impact of the past few years. A minimum of 1,000 U.S. Adults (aged 18+) have been surveyed for each wave. All surveys are balanced by geography, gender and age.
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