3 Summer Spending Trends

It’s the last full week in July, and it’s been a HOT summer. Summer means vacation for many. Nearly 63% of American adults are expected to travel this summer, representing ~163 million travelers.

Summer vacation also means shifting buying patterns. Here are a few nuggets on summer spending (and how to inspire purchases during the dog days of summer).

1. After signs of improving economic sentiment in the spring, consumer spending seems to be in a summer slump. Across age and income groups, American consumers continue to spend less than they did a year prior — except on travel. Real year-over-year spending has declined for the third month in a row, while for the first time in more than two years, nominal spending growth is now negative as well.
   
   
2. The 'summer vacation attitude' can make shoppers feel more relaxed and more likely to make purchases without as much research or consideration. In summer, there's also a trend toward more self-indulgent spending, including more impulse buys. Being top-of-mind is important; think mobile and social marketing to make your brand top-of-mind (Need help? IGA has a media buying program to get your store in front of mobile users and a social media program to manage your store's social platforms). 
   
   
3. The sunny days of summer are good for local businesses. People are more likely to leave the house and get into the community. When you shop with a local business, you create jobs in your community. In fact, for every $100 you spend at a locally owned store, $68 returns to the community through taxes, payroll, and other expenditures. Compared to only $43 of each $100 spent at a national chain store. Local shopping supports the local economy and creates a stronger, more vibrant community.
   
   Happy travels (and shopping)!