News Byte: Consumer Confidence Falters Further in November

Share this content:
Consumers: I'll be broke for Christmas.
Consumers: I'll be broke for Christmas.

Forget Black Friday; think Black Holiday.

After a government shutdown-influenced plunge of nine points in October, the Consumer Confidence Index dropped almost another full point to 70.4 in November, reported the Conference board, which tracks the metric that often foreshadows purchase behavior.

The Conference Board's Present Situation Index, an indication of immediate consumer sentiment, fell nearly half a point to 72 of a possible 100, boding ill for retailers during their most crucial revenue generation season.

"Sentiment regarding current conditions was mixed, with consumers saying the job market had strengthened, while economic conditions had slowed,” says Lynn Franco, director of economic indicators at The Conference Board. “When looking ahead six months, consumers expressed greater concern about future job and earning prospects, but remain neutral about economic conditions. All in all, with such uncertainly prevailing, this could be a challenging holiday season for retailers."

Only 19.9% of consumers said they thought business conditions were good, while 25.2% were of the opinion they were bad. Just 23% said they thought the business climate was worsening when surveyed last month.

Sign up to our newsletters

Company of the Week

Since 1985, Melissa has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above