November 16, 2020

Consumer Confidence Flat For November

by Jharonne Martis.

“As the election results clearly favor Joe Biden, American consumer confidence is holding steady. Despite a contested election, the metric has seen the least movement in an election month since we began tracking in 2002,” Chris Jackson of Ipsos notes. “More volatility is generally observed in the month after an election concludes so it will be interesting to see if the upward trend will continue or be reversed or hold steady again, something that has not yet happened in the Index’s history during an election year.”

Jharonne Martis, Director of Consumer Research at Refinitiv, said, “ Retailers are reporting Q3 earnings, and the Refinitiv U.S. Retail and Restaurant Q3 blended earnings index is expected to show 13.8% estimate. This is an improvement from the previous two quarters. As another wave of COVID 19 looms in the United States, “stay at home” related retailers continue to benefit as consumers’ houses have been converted into offices, gyms and education centers. Those with a solid omnichannel strategy offer shoppers a safe, fast and efficient way of getting their goods and are seeing strong double digit e commerce growth.”

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