Tag: Consumer confidence

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Consumer Confidence Takes a Major Hit in September Amid Growing Economic Concerns

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the staff of the Ridgewood blog

Ridgewood NJ, consumer confidence plummeted in September, marking the sharpest decline in over three years as Americans express growing concerns about the economy, particularly the labor market. According to data released by The Conference Board on Tuesday, the Consumer Confidence Index fell to 98.7 this month, a significant drop from August’s revised figure of 105.6.

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7% Decrease in Consumer Sentiment in August 2023

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the staff of the Ridgewood blog

Ridgewood NJ, Consumers feel over 7% less confident about their financial outlook this month than they did one year ago, according to the latest WalletHub Economic Index,

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Coronavirus to have significant impact on consumer confidence

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the staff of the Ridgewood blog

Ridgewood NJ, , Almost half of all retailers expect some economic downturn in their revenue as a result of the WHO declared pandemic known as the coronavirus, or COVID-19, according to a March 2020 survey by Digital Commerce 360 of 304 retailers.

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Black Friday Sales Jump Powered By Consumer Confidence and Online Sales

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November 26,2017

the staff of the Ridgewood Blog

Paramus NJ, Black Friday and Thanksgiving online sales in the United States surged to record highs as shoppers reached for discounts and bought more on their mobile devices.U.S. consumer confidence has been strengthening over this past year, due to a labor market that is churning out jobs, rising home prices and stock markets that are hovering at record highs.

Stores were less crowed but U.S. shoppers spent more than $1.52 billion online by Thanksgiving evening. This accounted for a 16.8 percent year-over-year increase in online spending, by 5 p.m. on Thanksgiving alone.

In combined Thanksgiving and Black Friday sales U.S. retailers raked in a record $7.9 billion in online sales on Black Friday and Thanksgiving, up 17.9 percent from a year ago, according to Adobe Analytics, which measures transactions at the largest 100 U.S. web retailers, on Saturday.

Adobe said Cyber Monday is expected to drive $6.6 billion in internet sales, which would make it the largest U.S. online shopping day in history.

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Consumer confidence Jumps to highest level since December 2000

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October 31.2017
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Ridgewood NJ, Consumer confidence rose to 125.9 in October, according to the Conference Board. The rating is at the highest level since December 2000.This accounts for Americans’ views of current economic conditions and their expectations for the next six months.

Consumers were even more optimistic in October than economists polled by Reuters expected. Boosted by the job market which had not received such favorable ratings since the summer of 2001.The economic weight of Hurricanes Harvey and Irma pulled down the spirits of U.S. consumers in September, when the index was relatively flat.The high level of confidence suggests the economy will continue to expand for the rest of 2017,

The index takes into account Americans’ views of current economic conditions and their expectations for the next six months. Economists pay close attention to the numbers because consumer spending accounts for about 70 percent of U.S. economic activity.

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Consumer confidence climbed in December to the highest level in 13 years

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December 28,2016
the staff of the Ridgewood blog

Ridgewood NJ, Consumer confidence climbed in December to the highest level since August 2001. Americans were more upbeat about the economic outlook than at any time in the past 13 years, according to a report Tuesday from the New York-based Conference Board.