Wednesday, September 24, 2014

A Blast From the Past: Consumer Spending Between 1901 and Today

A recent infographic developed by HubSpot takes readers through a blast from the past, traveling back 100 years to learn how consumers made purchase decisions and how it has changed over the years.

1901 - 1920
It all started in 1901, during which time consumer spending was heavily influenced by magazines, newspapers and other print advertising. During this time, the average family spent $769 per year on consumer goods.

1950 - 1965
By the mid-1950's, television was introduced to the masses, bringing television sets into nearly half of all US homes. During this time, television advertising made its debut and greatly impacted consumer spending. In 1960, the average family spend was around $5,390 annually.

2002 - Present
It goes without saying that American spending has increased significantly over the years. In 2002, the average family spent $40,748 on consumer goods per year and 90% of Americans already owned cell phones. Today, more than half of all Americans now own smartphones and look to the internet for simple shopping - purchasing items with the click of a button.

Take a look at what came between at HubSpot's blog, "How People Buy: The Evolution of Consumer Purchasing."

by Samantha Warner
Marketing Extraordinaire