Misery Down, Consumer Spending Forecast Up

The Misery Index, calculated using data from the U.S. Bureau of Labor Statistics, which has recently been added to Prosper’s Executive Retail InsightCenter, has been trending downward over the past couple months. The Consumer Spending Forecast from Prosper is up year-over-year, indicating that consumers are more willing to spend more now than they were a year ago at this time. Findings such as these should indicate a positive holiday season for retailers, right? It depends

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The Misery Index, calculated using data from the U.S. Bureau of Labor Statistics, which has recently been added to Prosper’s Executive Retail InsightCenter, has been trending downward over the past couple months. The Consumer Spending Forecast from Prosper is up year-over-year, indicating that consumers are more willing to spend more now than they were a year ago at this time. Findings such as these should indicate a positive holiday season for retailers, right? It depends.

Leaders need to stay in front of an ever-changing marketplace and expect their teams to be agile enough to respond better and faster using consumer insights. With Americans planning to loosen their grip on their wallets a little this holiday season, it becomes even more important to understand them in order to capitalize on their willingness to spend. New cloud-based advanced analytics platforms make it fast, easy and productive for senior level decision makers to understand the current and future state of consumers, forecast their spending, uncover trends, gauge progress of competitors, plus develop and monitor progress of a corporate strategy.

In addition to insights about a company’s customers, their competitors, the marketplace, economy, and future consumer spending plans, Prosper’s Executive Retail InsightCenter™ now includes key government economic indicators. Having a complete picture of the U.S. economy along with unique retailer insights all in one place simplifies evidence-based decision making by eliminating the need to search around for answers.

To better understand the consumer market and to get a competitive edge this holiday season, register for a complimentary 30-day trial of the Executive Retail InsightCenter.
Prosper Insights & Analytics is a trademark of Prosper Business Development.

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