consumer snapshot - march 2017
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March 2017
Consumer Snapshot
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sentiment strategy
Disclaimer: Prosper Business Development and its affiliated companies (“Prosper”) make no warranties, either expressed or implied, concerning: data gathered or obtained from any source; the present or future methodology employed in producing the statistics; or the data and estimates represent only the opinion of Prosper and reliance thereon and use thereof shall be at the user’s own risk.
March 2017
credit
quarterly
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sentiment
consumer sentiment
heading into spring, sentiment climbs 7+ points m/m to 57.8% who are confident/very
confident in the economy in March
very confident/confident in chances for a strong economy {adults 18+}
Source: Prosper Insights & Analytics
while members of the Silent and Boomer generations have been driving gains in consumer
confidence, sentiment among younger generations (Gen X and Millennials) rose 15%
m/m, in line with the overall average
47.4%50.1%
57.8%
30%
35%
40%
45%
50%
55%
60%
this month’s reading represents a 15 year high (March 2002 = 61.1%)
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sentimentvery confident/confident in chances for a strong economy {adults 18+}
Source: Prosper Insights & Analytics
historical perspective
this month’s reading represents a 20%+ improvement over Mar-16 as well as pre-
recession Mar-07
consumer sentiment
heading into spring, sentiment climbs 7+ points m/m to 57.8% who are confident/very
confident in the economy in March
46
.9%
47
.4%
57
.8%
0%
10%
20%
30%
40%
50%
60%
70%
this month’s reading represents a 15 year high (March 2002 = 61.1%)
while members of the Silent and Boomer generations have been driving gains in consumer
confidence, sentiment among younger generations (Gen X and Millennials) rose 15%
m/m, in line with the overall average
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strategypracticality & focus on needs{adults 18+}
practical purchases
while consumers are bullish on the outlook for the economy in March, they remain relatively bearish when it comes to their personal plans
to spend
focus on needs
likewise, shoppers’ focus on necessities also declines m/m, but remains elevated y/y
Source: Prosper Insights & Analytics
this month, 36.9% indicate that they’ve become more practical with purchasing, down 2+ points m/m, but remaining more
than a point above Mar-16
43.1% indicate they are zeroing in on just what they need when at the store in March,
continuing above the 13 month average (42.5%)
35.7%36.9%
40.5%
43.1%
20%
25%
30%
35%
40%
45%
50%
I have become more practical and realistic in my purchases
I focus more on what I NEED rather than what I WANT
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credit quarterly
current credit card debt
while just over one in four (28.9%) report $0 credit card balances each month, the majority of
consumers maintain balances of $1 to $2,500 (42.2%) or $2,501 to $5,000 (13.1%)
Source: Prosper Insights & Analytics
average monthly household credit card debt{adults 18+}
28.9%
42.2%
13.1%
0% 10% 20% 30% 40% 50%
$0
$1 to $2,500
$2,501 to $5,000
$5,001 to $10,000
$10,001 to $15,000
$15,001 to $20,000
More than $20,000
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credit quarterly
Source: Prosper Insights & Analytics
average monthly household credit card debt{adults 18+}
5 year trends
it appears that over the past holiday season, consumers were more inclined/able to take on
some credit card debt, with balances under $5,000 increasing y/y – which might help explain why consumers are feeling a bit more practical
with the spending versus Mar-16
over the longer-term, consumers seem confident taking on smaller balances, with the percentage
of $0 balances declining at an average annual rate of 3% over the past 5 years
current credit card debt
while just over one in four (28.9%) report $0 credit card balances each month, the majority of
consumers maintain balances of $1 to $2,500 (42.2%) or $2,501 to $5,000 (13.1%)
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
$0 $1 to $2,500 $2,501 to $5,000
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Pam GoodfellowConsumer Insights Director
Prosper Insights & Analytics™pam@goProsper.comProsperDiscovery.com
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