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Tough economic times will ding Apple, but not as bad as some companies

Written by: Dennis Sellers

Article Overview: New research from the ChangeWave Research group shows that Apple won’t be immune from taking hits due to the tough economy. But my favorite tech company seems to be in as good of shape as any to make it through some tight months.

Tough economic times will ding Apple, but not as bad as some companies

New research from the ChangeWave Research group shows that Apple won’t be immune from taking hits due to the tough economy. But our favorite tech company seems to be in as good of shape as any to make it through some tight months.

ChangeWave’s February consumer survey results point to yet another leg downward in U.S. consumer spending going forward, reversing the tiny signs of stabilization seen in the January survey. The ChangeWave survey of 3,115 consumers was conducted Feb. 2-9, and shows that better than three-in-five U.S. respondents (61 percent) say they’ll spend less money over the next 90 days, four points worse than the January survey. Just 12 percent of respondents say they’ll spend more money, one point worse than previously.

Respondents were also asked their impressions of the economy, and the survey finds consumer sentiment and expectations have turned considerably more negative than they were in early January. Two-in-three (64 percent) respondents now think the overall direction of the U.S. economy will worsen over the next 90 days—eight points worse than a month ago. Only eight percent believe the economy will improve—a decline of four points to the lowest reading since ChangeWave began asking this question.

Only 14 percent say they are more confident in the U.S. stock market than they were 90 days ago, 12 points worse than previously. Another 42 percent say they’re less confident, 11 points worse.

Three-in-five (59 percent) report they are dissatisfied with their personal finances, one point worse than January. Just four percent say they’re very satisfied.

For the sixth-consecutive survey since July, “saving more money” (42 percent; up one point has risen as a key concern and is now one of the top reasons why consumers are spending less. Reducing debt (35 percent; down one point) also remains a major factor. But the number one reason is reduced income (44 percent; up six points), which has surged six points since January alone.

Where Apple is concerned, going forward, planned computer buying among consumers remains at the lowest level ever recorded in a ChangeWave survey. Only four percent of respondents say they’ll buy a desktop in the next 90 days—one point less than in a January 2009 survey. Just six percent say they’ll buy a laptop.

Within the shrinking overall PC spending environment, Apple planned laptop purchases (30 percent) for the next 90 days have improved three points since our previous survey in January. But at the same time, planned desktop purchases (26 percent) have dipped two points.

In terms of actual Apple purchases over the past 90 days, Mac laptops (20 percent; down two points) and desktops (15 percent; down two points) continue to show weakness among consumers.

On the other hand, in terms of customer satisfaction, there’s no question which company is the industry leader. Among respondents who bought a Mac over the past 90 days, 81 percent say they are very satisfied. This compares to a 55 percent very satisfied rating for Dell and a 52 percent rating for HP.

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Article Tags: asking this question, changewave research, consumer sentiment, consumer spending, consumer survey results, consumers, decline, economy, feb 2, four points, impressions, one reason, personal finances, reducing debt, research group, respondents, shape, signs, six points, u s stock market



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