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Survey Results: The Consumer Sentiment Study

April 12, 2021

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Quarterly Consumer Sentiment Study Overview

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The Consumer Sentiment Study is a quarterly survey from Marcus by Goldman Sachs®, which aims to track Americans’ perception of current and future financial climates, market conditions and plans for their money. In each installment, Marcus releases new data to provide a window into the pulse of the consumer as it pertains to personal finance and spending behavior over time in the United States. The survey findings live on Marcus.com.

The survey was conducted among a nationally representative sample (using U.S. Census data) of 1,501 Americans. The survey was conducted in March 2021.

The survey asked how people are feeling about their finances – looking back six months ago as well as looking ahead from six months from now.

52%

More than half of Americans (52%) say they are the same financially as they were 6 months ago.

80%

80% of Americans say they will be the same or better off financially 6 months from now.

Survey Highlights

More than a quarter of Americans (27%) think that during the next 6 months we will have good financial business conditions while more than a third (36%) think we’ll have the same financial business conditions

Now turning to business conditions in the country as a whole--do you think that during the next 6 months we will have good times financially, or bad times, or what?

A third of Americans (33%) are feeling financially hopeful when thinking about the next 6 months, while a quarter (26%) are feeling financially anxious

Thinking about the next 6 months, how are you feeling financially? Select all that apply.

Americans are most concerned with an economic recession (47%) and the rising cost of living (47%), followed by health conditions or illnesses (41%).

Which of the following market events or business conditions are you most concerned about? Select all that apply.

The Consumer Sentiment Survey was conducted by Marcus by Goldman Sachs in March 2021 among 1,501 Americans.

Full Survey Result for March 2021

Compared to your current behavior, do you think that during the next 6 months you will . . .

84% of Americans think they will save the same or more during the next 6 months.
Nearly three-quarters of Americans (74%) think they will spend the same or more during the next 6 months.
46% of Americans think they will take on less debt.

You said that during the next 6 months, you think you will spend more. Where do you believe that you will be spending more money? Select all that apply.

46% believe they will spend more on general expenses.
Nearly a third (30%) believe they will spend more on a vacation.

You said that during the next 6 months, you think you will save more. Why do you believe that you will be saving more money? Select all that apply.

41% believe this is because they are building an emergency savings fund.

Which of the below areas will be your biggest financial priority over the next 6 months?

More than a quarter of Americans (28%) said that their biggest financial priority over the next 6 months will be paying off debt.

How long do you think it will take for the U.S. economy to make a full recovery and return to pre COVID-19 levels of activity?

Over a third of Americans (34%) think it will take 1-2 years for the U.S. economy to make a full recovery and return to pre COVID-19 levels of activity, while 30% think it will take more than 2 years.

View results from survey conducted in December 2020

To what extent do you anticipate the new presidential administration will impact your financial situation?

82% of Americans anticipate the new presidential administration will impact their financial situation.

How do you anticipate the new presidential administration will impact your financial situation?

Of those who feel the new administration will impact their finances, nearly half (46%) anticipate the new presidential administration will positively impact their financial situation, while more than a third (36%) anticipate it will negatively impact their financial situation.

Thinking about the next 6 months, how are you feeling financially? (Select all that apply)

More than a third of Americans (36%) are feeling financially hopeful when thinking about the next 6 months.

More than a third of Americans (36%) are feeling financially anxious when thinking about the next 6 months.

Compared to your current behavior, do you think that during the next 6 months you will . . .

Compared to their current behavior, more than a third (34%) of Americans think they will save more during the next 6 months.

Compared to their current behavior, 28% of Americans think they will pay down more debt during the next 6 months.

You said that during the next 6 months, you think you will save more. Why do you believe that you will be saving more money? (select all that apply)

Of those who think they will save more in the next 6 months, 43% believe this is because they are building an emergency savings account.

Which of the below areas will be your biggest financial priority over the next 6 months?

Over a third of Americans (36%) say paying off debt will be their biggest financial priority over the next 6 months, while one in five (22%) think short-term saving will be their biggest financial priority over the next 6 months.

How long do you think it will take for the U.S. economy to make a full recovery and return to pre COVID-19 levels of activity?

Nearly a third of Americans (32%) think it will take 1-2 years for the U.S. economy to make a full recovery and return to pre Covid-19 levels of activity, while 26% think it will take more than 2 years and 22% think it will take 6-12 months.

To what extent do you anticipate an effective COVID-19 vaccine will impact your financial situation?

Over half of Americans (53%) anticipate an effective Covid-19 vaccine will impact their financial situation.

How do you anticipate an effective COVID-19 vaccine will impact your financial situation?

Of those who feel a Covid-19 vaccine will impact their finances, over half (53%) anticipate that an effective vaccine would have a positive impact on their financial situation.

Comparing April to now, do you feel that you have spent more or less time learning about financial matters (e.g. personal finance, saving, investing, general economic trends)?

A quarter of Americans (25%) feel that they have spent more time learning about financial matters now than they were in April.

This article is for informational purposes only and is not a substitute for individualized professional advice. Articles on this site were commissioned and approved by Marcus by Goldman Sachs®, but may not reflect the institutional opinions of The Goldman Sachs Group, Inc., Goldman Sachs Bank USA or any of their affiliates, subsidiaries or divisions.