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FINDING CUSTOMERS WITH MONEY

October 28, 2012

I’ve blogged on this before. The challenge for sales and marketing today is trying to find people who can afford your service or product. My favorite research stat blog, American Consumers Newsletter by Cheryl Russell, Editorial Director, New Strategist Publications, shared some insight into household spending that shows how big a problem every small business faces.

In 2011 the average household spent $49,705, according to the Consumer Expenditure Survey. Although household spending has stabilized, rising slightly (0.16 percent) between 2010 and 2011 after adjusting for inflation–an increase of $77, it is still way below the $54,001 peak of 2006 and is only $8 more than the $49,697 of 2000. Hopefully, things will continue to improve going into 2013 seven years after the time when your family had money to spend.

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