How the Retail Spending Index is calculated:
The Experian US Retail Spending Index is calculated utilizing responses from a nationally representative sample of US consumers to 3 relevant survey questions.
- Thinking about your spending overall, for your household and for yourself individually, right now compared to a month ago, are you…
- Spending more now than a month ago (score=100), Spending about the same (0), or Spending less / trying to cut back on spending (-100)
- For each of the (25) categories listed below, please indicate whether or not your spending this month is higher, the same, or lower than it was last month?
- Higher (100), The Same (0), or Lower (-100)
- For each of the (25) categories listed below, please indicate what you expect might happen next month. Is your spending likely to be higher, lower or about the same?
- Higher (100), The Same (0), or Lower (-100)
Respondents answer questions 2 and 3 separately for these 25 household spend categories:
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Purchases of furniture, appliances, electronics; Home maintenance/repairs/improvement; Internet costs; Media subscriptions – streaming services, cable, magazines, newspapers, etc.; Cell phone costs; School/college tuition and fees; Childcare / babysitting; Items for baby – diapers, baby food, formula etc.; Automobile expenses; Public transport / taxi / ride share; Groceries; Food Delivery or take out; Eating out; Medical and dental services; Pharmacy; Beauty and wellness; Cigarettes & tobacco; Alcohol; Coffee; Recreation and Entertainment – movies, shows, concerts, sporting events, etc.; Books/video games/music downloads, etc.; Clothing; Shoes and accessories; Vacation
Retail Spending INDEX = the average score (between 100 and -100) to the 3 questions noted above.
The index is scored between 100 and -100, with the values representing:
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100 = Extremely High Retail Spending
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0 = Normal Retail Spending
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-100 = Extremely Low Retail Spending
How the Consumer Sentiment Index is calculated:
The Experian US Consumer Sentiment Index is calculated utilizing responses from a nationally representative sample of US consumers to 3 relevant survey questions:
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Overall, how do you feel about your current situation, given the existence of this pandemic and the measures being taken to combat it? Would you say…
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Delighted (score=100), Pleased (67), Mostly satisfied (33), Mixed (0), Mostly dissatisfied (-33), Unhappy (-67), or Terrible (-100).
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In your opinion is your current situation getting better, staying the same or getting worse than it was a month ago?
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Getting Better (100), The Same (0), or Getting Worse (-100)
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What is likely to happen to your situation in the next month or so? Is your situation likely to get better, stay the same or get worse?
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Get Better (100), Stay The Same (0), or Get Worse (-100)
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Consumer Sentiment INDEX = the average score to the 3 questions noted above.
The index is scored between 100 and -100, with the values representing:
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100 = Extremely positive consumer sentiment
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0 = Neutral consumer sentiment
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-100 = Extremely negative consumer sentiment.
Does your organization have any immediate, short or long-term consumer confidence questions related to the Corona Virus?
The Right Way and The Wrong Way to Do Data Science
After more than 20 years of consumer data science, Horizon Consumer Science knows the pitfalls of data science and how to conduct data science correctly in the business setting.
Types of Data Science Analytics and How to Use Them
Horizon Consumer Science has been carrying out descriptive analytics, predictive analytics, diagnostic analytics, prescriptive AI analytics, and preventative analytics for over 20 years. The names have changed but the solid empirical practices remain the same.
Why a Data Science Team is Better Than a Lone Data Scientist
Horizon believes that four roles are necessary to carrying out data science properly in consumer markets. We bring together data thinkers (statisticians and mathematicians), data jocks (software data engineers), business thinkers (MBAs) and consumer behavior specialists (consumer psychologists).
2018 Global Traveller Report (TRaCS)
Horizon Consumer Science releases a Bi-Annual travel retail report on the habits and profile of consumer travellers around the globe. From airport retail trends to cruise ships to tourist shops and overall global tourism trends, this is the most comprehensive study of global travellers and what they spend each year. The 2018 executive summary of the report is available for free. Please contact Horizon Consumer to purchase the entire report. The next report will be released October 2020.
Download: 2018 Travel Retail Catalyst Study (TRaCS)
Dr. Denise Daniels speaks at UC Irvine’s Applied Innovation Center to start-up CEOs on how to creatively outsource their data science needs until they are large enough to build their own data science team.
Horizon Consumer Science VP of Data Science & AI Consulting, Ph.D., Research Psychologist and Data Scientist, spoke at UC Irvine’s Applied Innovation Center on August 15, 2019. Check out her talk, titled:
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Segmentation is a method that partitions a market to market segments. These are essentially subgroups of consumers who have similar characteristics, be it their attitude towards shopping, their life philosophy, their preference to a product, etc. The idea behind segmentation is that it helps firms develop more efficient marketing strategies, such as to better target their products to their consumers based on the different needs of segments.There are generally two types of segmentation: a-priori and post hoc. With the a-priori segmentation, segments are defined prior to analysis and the goal of the analysis is simply to profile these segments. With the post hoc segmentation, segments are identified by using either hierarchical or partitioning methods (Dillon, 1994).
Dr. Ian Cesa speaks at UC Irvine's Applied Innovation Center
Horizon Consumer Science CEO and Founder, Ian Cesa, Ph.D., Research Psychologist and Data Scientist, spoke at UC Irvine's Applied Innovation Center on November 2, 2018. Check out his talk, titled:
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