Report says US consumer well-being is improving

 
Feb. 24, 2014

Temkin Group has released its Temkin Well-being Index (TWI), which measures the well-being of U.S. adult consumers. The TWI is based on surveys of 10,000 U.S. consumers that were completed in January of 2012, 2013, and 2014. The TWI of 64.0 percent in 2014 represented a 2.5 point increase over 2013 and a 4 point increase from 2012.

The TWI is an index that averages the percentage of consumers who agree with the following statements:

  • I am typically happy;
  • I am healthy; and
  • I am financially secure.

"U.S. consumers are in a better position in 2014 than they were in the previous two years and the data shows that well-being is trending in the right direction," said Bruce Temkin, Managing Partner of Temkin Group.

Here are some details from the TWI:

  • All three elements of TWI — happiness, healthiness, and financial security — have increased over last year.
  • In 2014, 77 percent of consumers said they are typically happy, which is an increase from 74.9 percent last year.
  • In 2014, 68.8 percent said they are healthy, which is an increase from 67.6 percent last year.
  • In 2014, 46.2 percent said they are financially secure, which is an increase from 42.1 percent last year.
  • Consumers made the biggest gains in financially security, an area that increased more than four percentage points between 2013 and 2014.

This TWI data can be accessed from the blog, Customer Experience Matters, at ExperienceMatters.wordpress.com.


Topics: Consumer Behavior


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