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Americans' Remodeling Plans Grow in 2012 Jan 20, 2012 |
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The percentage of Americans who plan to spend more on remodeling this year than last year has grown from 12% in 2011 to 17% in 2012, according to the latest American Express Spending & Saving Tracker. They are also planning to spend more on Indoor Home Improvements/Decor and Fitness Equipment. 56% of Americans expect to spend the same or more in 2012 overall.
Remodeling
All Consumers planning to spend more on Remodeling:
* 2012: 17%
* 2011: 12%
Affluent Consumers (with a minimum annual household income of $100,000) planning to spend more on Remodeling:
* 2012: 21%
* 2011: 17%
Young Professional Consumers (less than 30 years old, with a college degree and minimum household income of $50,000) planning to spend more on Remodeling:
* 2012: 26%
* 2011: 23%
Indoor Home Improvements/Decor
All Consumers planning to spend more on Indoor Home Improvements/Decor:
* 2012: 23%
* 2011: 16%
Affluent Consumers planning to spend more on Indoor Home Improvements/Decor:
* 2012: 28%
* 2011: 22%
Young Professional Consumers planning to spend more on Indoor Home Improvements/Decor:
* 2012: 38%
* 2011: 33%
Fitness Equipment
All Consumers planning to spend more on Fitness Equipment (such as treadmills):
* 2012: 15%
* 2011: 8%
Affluent Consumers planning to spend more on Fitness Equipment:
* 2012: 19%
* 2011: 11%
Young Professional Consumers planning to spend more on Fitness Equipment:
* 2012: 32%
* 2011: 26%
Amex also reported that:
* 35% of consumers surveyed are optimistic about their finances
* 87% (up from 83% in 2011) have set benchmarks to help meet their 2012 financial goals