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Industry News Citibank survey shows consumer optimism on the rise 2011-02-04 Customer segmentation analysis from researchers employed by Citibank shows that the general economic outlook among most Americans is on the rise, and that increased optimism could directly translate into better spending levels and an overall spike in the health of U.S. markets. More than two-thirds of those surveyed told researchers they were confident that their financial situations would improve in 2011, while just 27 percent said they were either somewhat or very pessimistic about the prospect. The latter figure is a four-point decline from a statistic compiled in a similar study last year, the researchers said. Nevertheless, said Citibank chief global consumer marketing and internet officer Michelle Peluso, the American public is not completely free from the economic gloom that has been seen in recent years. "While Americans are positive about their own future, they continue to have concerns about the broader economy. The downturn's impact on priorities and behavior has been profound and appears to be more permanent than in previous recessions that were shorter and not as deep," she said. Employment prospects are one area where the pessimistic outlook appears to have persisted, the researchers said. Sixteen percent of those surveyed said the employment opportunities available to them were "excellent" or "good," which represents a two-point increase from the previous year's figures. And while the percentage of Americans describing their job opportunities as "poor" slid from 51 to 46 percent this year, the number of those in the "fair" category rose four points to 37 percent, according to the researchers. Moderate improvements were seen in the number of Americans who said they were comfortable with their levels of debt and relatively strong upticks were seen across the socioeconomic spectrum in the level of confidence in local business conditions, according to Citibank. The researchers added that more respondents indicated they thought the economy had reached its nadir already than in the previous survey. Those with an interest in customer loyalty solutions may be interested in the statistic compiled by Citibank's researchers which says the top financial habit Americans would like to get out of in 2011 is impulse spending. Experts say programs designed to aid consumers in reaching that goal could prove highly effective if properly implemented.
More customers switching banks, survey finds
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