Temkin Well-Being Index for U.S. Consumers Experiences Major Decline

Executive Summary: The Temkin Well-Being Index dropped from 65.9% in 2017 to 63.4% in 2018, the largest drop we’ve seen. It was caused by declines across all three areas, happiness, healthiness, and financial security.

Temkin Group has been doing large-scale consumer research for several years. As part of our ongoing studies, we track many consumer attitudes. To gauge the overall quality of life for the U.S. population, we created the Temkin Well-Being Index (TWBi) based on a few of those attitudinal elements.

The TWBi is based on a survey of 10,000 U.S. consumers in January. The overall index is an average of three measurements representing the percentage of U.S. adults (18 and older) who agree with these statements:

  • I am typically happy
  • I am healthy
  • I am financially secure

We’ve been tracking the TWBi since 2012.  As you can see in the figure below:

  • The TWBi dropped to 63.4% this year after reaching 65.9% last year, the highest over the six years we’ve been tracking the metric.
  • The decrease of 2.5 %-points between 2017 and 2018 is the largest single-year decline.
  • All three areas of the TWBi decreased since last year. The largest decrease is in healthiness, which dropped 2.9 %-points between 2017 and 2018.

The bottom line: U.S. consumers are much less well off this year.

Written by 

I am an experience management transformist, helping organizations improve business results by engaging the hearts and minds of their customers, employees, and partners. My "job" is Head of the Qualtrics XM Institute. The Institute is still being established, but our goal is to help organizations around the world thrive by mastering Experience Management (XM). As part of this focus, I examine strategy, culture, interaction design, customer service, branding and leadership practices. And, as many people know, I love to speak about these topics in almost any forum. Prior to joining Qualtrics, I was managing partner of Temkin Group (leading CX research, advisory, and training firm), co-founder and chair of the Customer Experience Professionals Association (CXPA.org), and a VP at Forrester Research. I'm a fanatical student of business, so this blog provides an outlet for sharing insights from my ongoing educational journey. Check out my LinkedIn profile: www.linkedin.com/in/brucetemkin

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