Bank Marketing News: Emotion Sells: Consumers Feeling Positive, Finds Emotion Index

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Bank Marketing News: Emotion Sells: Consumers Feeling Positive, Finds Emotion Index

Emotion Sells: Consumers Feeling Positive, Finds Emotion Index

San Diego, CA: March 30, 2010: Luth Research's IndicatorEDG™Emotion Index finds that Americans more positive now than one year earlier.

The Emotion Index study finds that a broad spectrum of measured positive emotions were up an average of 1.5% over the 2009 report. Supporting this encouraging trend, the study also found that the array of negative emotions moved slightly downward, as indicated in the Table below.

                  IndicatorEDG(TM) Emotion Index

                     (% of Population Reporting)

   Positive    QTR 1       QTR 4    Negative      QTR 1     QTR 4

   Emotions     2009        2009     Emotions      2009      2009

   Hopeful       57%        59%     Anxious        34%        35%

   Happy          1%        33%     Stressed       30%        31%

   Excited       27%        29%     Worried        33%        30%

   Content       21%        26%     Frustrated      9%        19%

   Calm          20%        22%     Fearful        15%        14%

   Pleased       17%        20%     Depressed      13%        13%

   Proud         10%        12%     Sad             9%         8%

                                    Annoyed         8%         8%

According to Luth Research, the improvement in consumer emotions translates into potential growth in consumer spending.

Not all emotions, however, are created equal. Positive emotions are tied with increases in willingness to buy more expensive items such as computer (excluding automobiles), but not influencing car purchases. When it comes to buying a car, negative emotions including fearful and worried actually serve as motivations rather than suppressors. Notably, an increase in each of four key emotions - excitement, pride, anxiety and frustration - positively drives both general and automotive purchases.

Against the slowly brightening consumer sentiment, lays the persistent concern related to the overall economy. Key anxiety culprits include escalating health care costs (43% are very concerned) followed by not having enough money to live in retirement (39%); rising gasoline prices (36%); employment (34%); recession (32%.)

Other than the economic issues cited above, Americans are very concerned about declining moral standards (39%); personal health (36%); international peace (34%); current political leadership (34%); internet security (31%); and a terrorist attack in the US (30%.) Concerns about the current political leadership have declined substantially since Q1 2008 when 50% of Americans were concerned about this and when George W. Bush was still President.

In the past six months, 34% of Americans have bought digital cameras, 30% have bought LCD TVs, 27% have bought cell phones with MP3 download capability and 26% flash drives or portable USB storage devices. These are just the top four most popular technology purchases. In the next three months, 26% of Americans say they will buy digital cameras, 25% say the will buy Blu-Ray disk players and 21% say they will buy next generation video games. Tablet PC is considered hot by more than half of the market (55%), taking a nearly 10% lead over Netbook. The popularity of electronic readers represented by Kindle has almost doubled in the past year (32% citing as hot). Another fast attention grabbing product is OLED TV, favored by 17% of the consumers.

Roseanne Luth, CEO of Luth Research, believes all marketers should take note of this continued tech spending, "Technology products may be your competition even if you are not a technology company. Money spent on tech products is at the expense of other products and services. And this spending does not seem to be letting up."

About Luth Research

Founded in 1977, Luth Research offers clients around the world the kind of world-class market research that moves business ahead. Our personalized service, advanced technology, and customized research methodologies place us at the forefront of the market research industry. For more information call (800) 465-5884. www.luthresearch.com/indicatorEdgor email at indicator@luthresearch.com.

Source: Luth Research