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Thursday, September 8, 2011

How is your personal economy?

Today’s Research Brief cites a study from Citibank, and provides additional insight as to why it is so important to consider the condition of your local economy and actual customers, even as you worry about the state of the nation’s financial affairs.

According to the article, fully 72% of consumers believe the economy still has a way to go to reach bottom, but 60% of Americans remain somewhat or very optimistic about their own personal economic situation over the next 12 months.  Click here to see the story.

Implications:  Let me paraphrase what I think this research might suggest.  Consumers see the world around them crumbling, but many believe they are positioned to not suffer the consequences. 

At the very least, this research validates the idea that even a recession can be a very personal thing, and each of us are likely to experience and respond to it in our own way.

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

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