The article outlines the spending patterns that have been witnessed in the United States of America for the last five years that is 2009, 2010, 2011 2012 and 2013. The main focus is on the January and December average spending. The article also unfolds the events or some of the factors that have influenced the change in the consumer patterns for the last five years. The article focuses on the spending patterns in various months of the year. For instance, according to the article the consumer spending in January is almost the same as spending in December. For example, in January, the daily spending was $80 while in December the daily spending was $83 which is slightly different from that of January. However, this spending is different from the one recorded a year ago. For instance, a year ago, the January spending was $63.
The article also outlines some of the spending which can be considered best in months other than November and December. For instance, the average spending of $80 is considered to be the best as compared to the average spending of $91 of October 2008 following the global financial crisis. However, the article outline that after the recession that hit most of the world financial sectors, the average spending patterns have been ranging between $60 and $77.
The article estimates that the January average spending recorded an upward trend. The average spending was at least $70 since the beginning of March. On the other hand, the January spending pattern is believed to coincide with the Gallup’s decision to include only the respondents in the U.S. at the beginning of January. However, it is suspected that the decision could have interfered with the January spending estimates.
According to the article, both the higher and lower income earners recorded different average spending. For instance, the lower income earners reported spending of $70 on average compared to $67 of December while the higher income earners reported $138 on average compared to $155 in December.
The increased spending pattern following the recession can be attributed to the increasing confidence in the economy or a reflection of the higher prices of the goods and services which the Americans need to purchase. The variable of the marketing mix which this article is relating to is the price. The consumer’s spending pattern will help the marketers to make their future decisions. For instance, when the spending rate is high, marketers will increase the prices of their products in order to make huge profits. However, if the spending pattern reduces, then the marketers will have to reduce their prices in order to attract more consumers. Therefore, spending patterns will be an efficient way through which the marketers will determine the prices at which to sell their products.
References
Newport, F. (2011). The Gallup Poll: Public Opinion. U.S.A: Rowman & Littlefield Publishers.
