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He offers two reasons for consumer reluctance: ownership and messaging.
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The one thing that prevented the nine-member policy board from recommending a rate increase was the lacklustre spending by consumers, reflected in the waning confidence of the big retailers.Everything from inclement weather to job insecurity has been blamed for consumers' reluctance to spend.
Concern about security continues to be the most-cited reason for consumers' reluctance to adopt mobile payments.
While consumer reluctance to share identities imposes certain limitations for marketers, Snapchat's transitory nature works well for time-sensitive promotions – or, as demonstrated by Taco Bell, behind-the-scenes content.
But the U.S., for all its high-tech might, lags other markets, thanks to interstate banking regulations, consumer reluctance and the lack of a single technical standard.
"There is some consumer reluctance to going wireless, but I think this will be overcome over the next five years".
Wireless marketers are trying other ways to overcome consumer reluctance.
If they are implemented effectively, it will create a compelling retail environment for shoppers but it will not fix consumers' reluctance to spend in such an uncertain economic climate".
Falling sales are discouraging hiring, which is adding to consumers' reluctance to spend.
The political uncertainty of recent months may have been one factor contributing to consumers' reluctance to spend.
High household debt and consumers' reluctance to invest their black money are likely to complicate a return to rapid growth.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com