The future of US and UK consumers spending habits

US and UK consumers spending habits

According to this article, British and American consumers have diverse spending habits and marketers can target them when campaigning for their products.

UK consumers are pessimists about the future and they have embraced recession more than their US counterparts have. US spenders are likely to spend three times more than the UK spenders. This is both an opportunity and warning to the brands.

Generally, any consumer is willing to spend a fortune if they thought the product is worth but they aren’t willing to flitter their cash. It’s like the retailer has to go an extra mile convincing them the worthwhile of making the purchase.

Americans are not much careful when spending their money and they are much comfortable compared to their counterparts across the pond. Americans are more optimistic in their view and any challenge is seen as the road that will lead them to a better future.

Although they are faced with uncertainties, it does not hinder their heavy spending. UK consumers are not quite confident about their future and they are more focused about saving for it.

Despite the pessimistic nature of the UK consumers, they are more focused on home improvements. They spend much to improve the quality of their house making it a plus to people who are in the sector.