Consumer Expenditure Trends in 2013

source: http://www.marketingcharts.com/traditional/consumer-expenditure-trends-in-2013-46299/?utm_campaign=rssfeed&utm_source=mc&utm_medium=textlink

BLS-US-Consumer-Expenditure-Trends-in-2013-Sept2014Consumers spent more on housing and transportation but less on apparel and entertainment in 2013, details the US Bureau of Labor Statistics (BLS) in a recent data release. While average expenditures by each consumer unit (families, financially independent single persons, or groups who share expenses) fell by less than 1% year-over-year to $51,100, the allocation of that money did change – in some cases quite considerably.

That’s particularly the case for apparel and services, which saw a 7.6% drop in average annual spending per consumer unit to $1,604. The BLS notes that the drop spread across most apparel categories, and included an 8.3% decline for men and boys clothing and a 7.6% decline for women and girls clothing.

The second-biggest percentage decline in spend came for en! tertainm ent, down 4.7% year-over-year to an average per-unit spend of $2,482. By contrast, spending on healthcare (2.1%) and housing (1.5%) grew the fastest of the major components.

Those results mirror recent research from Gallup, in which US adults surveyed were most likely to be increasing spending on necessities such as rent and mortgage, utilities and healthcare, and least likely to be growing their outlays on discretionary categories such as apparel and leisure.

By: Dr. Augustine Fou Monday, September 29th, 2014 news

Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.

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