IRI study finds shoppers feeling optimistic about personal finances for 2017
The Q4 2016 findings reveal that 70% of consumers feel their household finances will improve in the next six months.
The majority of consumers see a brighter future for 2017, according the latest IRI Consumer Connect survey released by Chicago-based IRI. The Q4 2016 findings reveal that 70% of consumers feel their household finances will improve in the next six months, and are willing to pay a premium for higher quality and highly differentiated packaged goods products as well as for the convenience of shopping online.
“Consumers are feeling optimistic about their finances, but splurge-worthy priorities and money-saving strategies differ by shopper,” says Susan Viamari, vice president of thought leadership. “The key for CPG marketers is to know these shoppers inside and out, so they can precisely target the right products to the right shoppers. Our Consumer Connect survey provides excellent insights into these important shopper attitudes and behaviors.”
Optimism varies across generations, incomes, ethnicity
After surveying consumers after the U.S. presidential election in early January, Consumer Connect results point to a gap between younger and older consumers regarding improvements in their household finances for the first half of 2017. For instance, 33% of 18- to 34-year-olds and 38% of 35- to 54-year-olds think their personal finances will improve, while only 18% of 55- to 64-year-olds and 11% of those aged 65-plus think their finances will improve.
Meanwhile, optimism about future financial health is fairly consistent across income ranges. Among those expecting improvements: