BIGinsight: Consumer Grew Spending Shy In Early December
Thursday December 27th, 2012 - 3:13PM
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Consumer spending sentiments took a conservative turn in early December, according to the monthly study conducted by BIGinsight. After a Black Friday and Cyber Monday spending binge, consumers became more commonsensical in December with 48.1% saying they had become more practical in their purchasing, up five points from November and a little more than one point from the month last year.
At the same time, 53.7% of respondents said they could content themselves with just what they needed when at the store, up from 50.2% last month and 52.1% last December.
A third of consumers responding to the study characterized paying down debt as a current priority while 32.5% put a premium on decreasing overall spending and 27.9% acknowledged plans to increase savings.
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Dissecting what Ron Johnson got wrong during his brief, calamitous term at the helm of J.C. Penney is sure to be the focal point of retail strategy and tactics lessons for years to come. But Penney’s future could still hinge to some extent on what he got right.