Choose an area of interest:
Search 

Choose an area of interest:


In Midst of Tough Economic Times, Americans Return to Time-Honored Summer Pursuits


July 9, 2009 (SmartPros) Chase consumer survey reveals barbeques, little league and summer camp valued most this summer by Americans.


Despite the challenging economic environment, Americans aren’t spending less on time-honored pursuits that characterize summer living, according to a survey released today by Chase Card Services, a division of JPMorgan Chase & Co.
 
New barbeque grills, pool memberships, Little League, golf clubs, summer camps, and regular summer vacations are some of the traditional items and activities many Americans still plan to spend on this summer, indicating a cautiously optimistic mindset among consumers as summer heats up. To pay for these items, many Americans plan to reduce spending in other areas, such as limiting their usage on utilities and landscaping services, steps often seen as a return to a “more simple time.” For example, this summer there will be more do-it-yourself dads mowing the lawn and making repairs around the house, as well as families turning off the air conditioner.
 
The Chase survey, which was fielded by Braun Research, reached 1,004 adults nationwide by phone from April 28 to May 3, 2009. The findings reveal that:
 
Summer Spending
  • 64 percent of Americans still plan to spend on summer novelty purchases like barbeques or pool memberships.
  • 70 percent of Americans will not cut back on summer activities like summer camp or Little League.
  • 59 percent of Americans will not skip summer vacations or outings lasting a weekend or longer.

Summer Saving

  • 72 percent of Americans will maintain their own yard instead of hiring someone else, an 18 percent increase from last summer when 54 percent were already maintaining their own yard.
  • 65 percent of Americans will pay attention to utilities usage (especially electricity costs from air conditioning) and try to reduce summer spending, a 40 percent increase from last summer when only 25 percent paid attention to their summer utility spending.
  • 83 percent of Americans will handle their own home repairs and spring cleaning, an increase of 26 percent from last summer when only 56 percent said they would do so.
The survey also revealed how certain segments of the American population will spend and save this summer, including:
 
Dads
  • 82 percent of dads will maintain their own yards this summer, an increase of 21 percent from last summer when only
  • 61 percent of dads were already maintaining their own yards.

Young People (18-24)

  • Two-thirds of young people will bike and walk this summer to save on gas.
Baby Boomers (55+)
 
  • More than half of baby boomers (57 percent) will continue their regular barbeque activities and/or pool memberships this summer.

Other

  • Single men are unlikely to give up barbeques and pool memberships with 57 percent saying they will not make that change this summer.

“Our survey provides an in-depth look at how consumers are spending and saving during these trying economic times,” said Joe Venuti, general manager, Chase Card Services. “As summer kicks into full gear, we are encouraged that a majority of Americans are still planning classic summer pursuits that enrich their lives and communities. Consumers are reducing spending in certain areas and saving in others to enjoy the true values of summer. That’s a good indication the economy may be turning the corner.”
 
Chase Card Services also conducted proprietary consumer research in the first quarter of 2009, which found that economic concerns about personal finances significantly eased from 83 percent to 72 percent of those surveyed from January to May 2009. This proprietary research also found that pessimism about the economy for the next quarter is now half the level of January 2009, and two-thirds of respondents think the outlook for the year is now looking up.

2009 SmartPros Ltd. All rights reserved.

Source: Chase

Related Stories
 
 
This Week in the SmartPros News & Insights Newsletter

Planned Pay Increases Lowest in 36 Years

Consumer Confidence Index Retreats in June
  Related Courses
 


 
Would you recommend this article?
5 (yes, highly)
4
3
2
1 (no, not at all) 		Comments:


 
 
About SmartPros | Accounting Products | Professional Education | Marketing Services | Consulting | Engineering Products | Contact Us
2009 SmartPros Ltd.