U.S. Consumers' Well-Being Drops, According to New Temkin Group Research
WABAN, Mass., April 16, 2018 -- Temkin Group, a leading customer experience research, consulting, and training firm, announces the results from its seventh annual Temkin Well-Being Index (TWBi), which measures the well-being of U.S. adults. The TWBi is based on online surveys of 10,000 U.S. adults that were completed in January of 2012, 2013, 2014, 2015, 2016, 2017, and 2018.
The TWBi dropped 2.5 %-points to 63.4% in 2018, the largest year-over-year decline since the creation of the index. This year's drop gave back most of the gain from last year's record high level.
The TWBi is an index that averages the percentage of consumers who agree with the following statements:
- I am typically happy
- I am healthy
- I am financially secure
"The well-being of U.S. consumers took a large step backward in 2018, experiencing a considerable drop across all three components," states Bruce Temkin, Managing Partner of Temkin Group.
All three elements of TWBi —happiness, healthiness, and financial security—decreased between 2017 and 2018. Here are the results from the three areas in 2018:
- Happiness: 75.6% (down 2.1 %-points)
- Healthiness: 66.7% (down 2.9 %-points)
- Financial Security: 48.0% (down 2.5 %-points)
Here are the TWBi since the start of the index:
- 2012: 60.0%
- 2013: 61.5%
- 2014: 64.0%
- 2015: 63.8%
- 2016: 61.9%
- 2017: 65.9%
- 2018: 63.4%
This TWBi data can be accessed from the blog, Customer Experience Matters®, at ExperienceMatters.wordpress.com.
For more information about Temkin Group, visit www.TemkinGroup.com.
About Temkin Group: Temkin Group is widely recognized as a leading customer experience research and consulting firm. Many of the world's largest brands rely on its insights and advice to steer their transformational journeys. Temkin Group combines customer experience thought leadership with a deep understanding of the dynamics of organizations to help accelerate results. Rather than layering on cosmetic changes, Temkin Group helps companies embed practices within their culture by building four critical competencies: Purposeful Leadership, Employee Engagement, Compelling Brand Values, and Customer Connectedness. The firm's ongoing research identifies leading and emerging best practices across a wide range of activities for engaging the hearts and minds of customers, employees, and partners. For more information, contact Bruce Temkin at 617-916-2075 or send an email to email@example.com.
About Bruce Temkin: Bruce Temkin is widely recognized as a customer experience thought leader and is Customer Experience Transformist and Managing Partner of Temkin Group. He is also the author of a very popular blog, Customer Experience Matters (ExperienceMatters.wordpress.com). Prior to forming Temkin Group, he was a VP at Forrester Research for 12 years. Bruce is a highly demanded speaker who consistently receives high marks for his content-rich, entertaining keynote addresses. He is also the co-founder and Emeritus Chair of the Customer Experience Professionals Association (CXPA.org), a global non-profit organization dedicated to the advancement of customer experience management.
Customer Experience Matters is a registered trademark of Temkin Group.