Market researcher Numerator reported consumer confidence held steady by the company’s measure in February, with 36% of consumers saying they’re putting spare cash in savings and 33% saying they’re paying down debt.
However, 11% of consumers said they don’t have any spare cash, according to Numerator.
Ways consumers are saving money include cooking at home, at 40%; shopping for items on sale, at 40%; and using coupons/discount codes, at 40%.
Numerator’s February Consumer Confidence Score, an average of how consumers feel about the job market, their household finances, and their spending comfort levels, was 56.5, up 0.1% from January.
For February, the company noted that:
- 30% of consumers considered it very or somewhat difficult to find employment in the current job market, up from the month and year earlier.
- 49% of consumers said their household’s financial situation is good or very good, flat versus earlier figures.
- 40% of consumers were very or somewhat comfortable spending money on discretionary purchases right now, down one point from January.
- 35% of consumers said they were spending less overall, up 1.5 points from January.
The Consumer Confidence February Financial Outlook Score was 53.6, down three points from January, after gains at the end of 2024. In thinking about one year from now, 29% of consumers said they believe their finances will be better than they are now, down three points from January, 49% think they’ll be the same, up one point, and 22% think they’ll be worse, up three points.
Numerator pointed out, by the end of 2024, 83% of households in the United States had made a purchase on Amazon in the past 12 months, averaging 73 orders over the course of the year and spending more than $2,800. In other research results, Numerator noted, among club stores, 47% of U.S. households shop at Costco as compared to 42% that shop at Sam’s Club. Among home improvement retainers, Home Depot sees higher household penetration, at 71% of U.S. households, and more urban and suburban shoppers while Lowe’s over indexes with rural shoppers.
Among value seekers, 79% of U.S. households shop at Dollar Tree annually, compared to 60% who shop at Dollar General, but Dollar General shoppers tend to spend more annually, at $522, versus $290 for Dollar Tree. Among drug chains, CVS gets visits from 69% of U.S. households, who average 19 trips and spend $400 annually there, while Walgreens generates traffic from 68% of U.S. households, who make fewer trips and spend less than CVS shoppers.
Amazon shoppers are more likely to be Millennials or Gen X and make impulse purchases compared to all U.S. shoppers. For their part, Costco customers have an annual buy rate more than $3,000.
