Consumer Confidence — Should You Care?

I was quoted in a recent Society for the Advancement of Consulting Press Release on the topic of consumer confidence:

“Watch what consumers do and where they do it more than what they say” advises degreed economist and manufacturing operations strategist Rebecca Morgan, President of Fulcrum ConsultingWorks, Inc. in Cleveland Ohio. “Recent surveys report that consumer confidence is weak yet spending patterns demonstrate the opposite. “

Morgan continues, “The important question is how and when does consumer confidence impact your business? Evidence suggests that consumers are now freely spending on what they see as non-luxuries, and those with good credit are dipping a toe in luxury (to them) purchases as well. But those baby steps don’t mean 40-foot boat sales are about to skyrocket. Those “financing-based luxury providers” should watch credit ratios and availability more than consumer confidence in the months ahead.”

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