![]() ![]() Regarding spending in the next month, both saw significant increases from the prior month in spending on toys, hobbies, and gifts and decreases in spending on travel. They are also less likely to say that price is important and more likely to say the brand is. adult to research a product on one site and buy on another. Regarding shopping behaviors, The Home Depot and Lowe’s customers are more likely than the average U.S. The Home Depot / Lowe’s 360 Report Financial Outlook – October 2022 Shopping Behaviors & Trends In contrast, older and lower-earning cohorts show the most profound concern for their financial situations. ![]() demographic segments of the general population, young and high-earning consumers feel the most financially optimistic. The Home Depot and Lowe’s customers align closely with the national average on the CivicScience Consumer Financial Health Index, although Lowe’s skews a touch higher.Īcross the U.S. While most Americans say they are being more careful about spending, difficulty controlling spending increased from the previous month. However, price sensitivity increased significantly from last month among The Home Depot customers. Price sensitivity is high for most consumers right now. Financial OutlookĬonsumers favorable to The Home Depot are slightly more concerned about finances than those favorable to Lowe’s. We uncovered significant insights in three of the verticals that this report offers for these popular home improvement brands. We ran The 360 Report for The Home Depot and Lowe’s to show how this product works. So you never miss an opportunity or threat. It discovers key insights for your brand by comparing them to competitive and consumer segments, identifying differences and similarities, and alerting you to shifts in categories like financial outlook, media consumption, and health and wellness. The 360 Report scans the CivicScience database of thousands of always-on questions. This is why we partnered with some of our best clients to create The CivicScience 360 Report. So how do brands better understand their current and potential customers to ensure they make the right business decisions? In essence, they need consumer-centric information that is trustworthy, timely, and relevant. Their decisions are impacted by forces outside the narrow purview of any industry or brand. Consumer behavior does not exist in a silo. ![]()
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