People are also indulging in different ways now than they did before the recession hit. Instead of going on vacations, buying expensive jewelry or buying new cars people are indulging instead in going out for dinner and drinks, getting manicures and massages, and staying active. These are all manageable purchases that have been kept in the budgets of many consumers.
From CNBC.com Consumer Nation:
There are a few other things that should be highlighted. People are still getting healthcare; offices of physicians have experienced steady growth through the course of the past year. This suggests that people are looking to the future and continue to take care of themselves. The fact that revenue of gyms and sporting goods stores are also up speaks to this point as well.
While layoffs have abounded in the course of the recession, and that is clearly not good news, it has given people the opportunity to go back to school to figure out what trade they would like to be in and to make themselves even more competitive in the job market as it picks back up. This trend is supported by the fact that technical and trade schools have grown their revenues by almost 13% over the last year alone.
While it is great news that consumer sentiment is up, it is also great news that people are finding new ways to stay within a budget without losing sight of their future and current wellbeing.
Brian Hamilton is the Chief Executive Officer of Sageworks, a financial information company based out of Raleigh, NC.