On average US men outspent women in January 2011, according to results of a new Gallup Poll. However, women’s average daily spending was up from January 2010 while men’s average daily spending was down.
Male Daily Spending Drops 17% YOY
Self-reported daily spending by adult male consumers averaged $64 in January 2011. This represents a substantial 17% decline from the average figure of $75 reported in January 2010.
Meanwhile, self-reported daily spending by adult female consumers averaged $53 in January 2011. This means on average men spent 21% more per day than women.
However, women spent an average of $49 per day in January 2010, meaning on a year-over-year basis female daily spending rose a moderate 8%.
Other Demographics Mostly Show Moderate Change
Gallup’s year-over-year comparison of spending behaviors across other demographic groups shows more modest differences, for the most part. Those younger than 50 years of age spent about 8% less, while older Americans spent about the same amount as a year ago.
Those in the East spent about the same as last year, while Americans in other regions spent less. Most significantly, Midwesterners spent about 14% less. Upper-income Americans (-10%) as well as their lower- and middle-income counterparts (-7%) spent less.
Overall Daily Spending Drops 40% from ’08
Self-reported daily spending by all US consumers in stores, restaurants, gas stations, and online averaged $58 per day in January 2011, down 6% from the January averages of $62 in 2010 and 9% from $64 in 2009, and a substantial 40% below the $97 average of January 2008.
‘New Normal’ May Stick Around
Gallup’s spending data are not seasonally adjusted and essentially reflect discretionary consumer spending, tracking closer to chain-store sales than to overall retail sales. During each month in 2010, Gallup’s consumer spending measure remained relatively close to 2009 levels, which has been called the “new normal trend.” Gallup analysis indicates January 2011 spending results suggest the trends of the past two years may be continuing this year.
Harris: Consumer Spending Moderately Rises
Consumers are slightly more likely to spend money in a variety of areas than they have been in the past six months and slightly less likely to reduce spending, according to results of a recent Harris Poll. For example, 36% of respondents say they are somewhat or very likely to take a vacation away from home lasting longer than a week in the next six months, up about 16% from 31% in September 2010.
About the Data: Results are based on telephone interviews conducted as part of Gallup Daily tracking during January 2011. Monthly results are based on telephone interviews conducted as part of Gallup Daily tracking with a random sample of approximately 14,000 adults, aged 18 and older, living in all 50 US states and the District of Columbia, selected using random-digit-dial sampling.