If economists are correct, 50% of Americans who receive an economic stimulus rebate won't spend a penny of it on themselves. Count on another 36% of Americans to spend the money on things like utilities, groceries, and bills; things that would have been paid otherwise. That leaves 14% of Americans to boost the economy with $9.3Billion; their cut of the total $130Billion stimulus package.
What will the 14%'ers spend their dough on? Nothing. The majority have reported they will save their rebate. Most said they would save for a rainy day, while others had the money allocated to college funds, vacation funds, and piggy banks. According to the Detroit Free Press, one of the last ways Americans reported to spend their rebate was on clothing or jewelry.
Don't worry, retail friends. Our time will come...
--
---
Ryan Arnold
ryan (at) arnoldcreative (dot) com.
Arnold Creative is a retail brand development firm steeped in the core capabilities of a traditional retail consultancy and integrated marketing firm. Our purpose is to provide small to midsized luxury retailers with expert customer experience management, reliable intelligence on internal processes & operations, and customer engagement & retention opportunities.
If your business is in need of strategic brand direction, please contact Ryan Arnold.
