Worldwide Consumer Spending

*Consumer behaviour*

I came across some interesting stats today on worldwide consumer spending and how the global recession has had an impact on this. One of the main findings from this study, conducted by The Futures Company, is that consumers in China, Australia and France have proved the most resistant to cutting their expenditure levels during the 'downturn'. Japan was also found to be the most pessimistic of all the markets - this, not such a surprising fact given cultural considerations.

Other key findings included:

32% of Chinese contributors had reduced their outlay since January this year, compared with 41% of their counterparts in France, and 47% in Australia.

77% of South Koreans had actively followed strategies that helped them save money, as had 75% of South Africans, 72% of Italians, and 71% of the panel in Ireland.

55% of consumers on average are now aiming to get the "best price" when making purchases

56% are placing the price of goods ahead of brand names when choosing what to buy.

However, there is some good news for luxury brands in that 16% of people still covet, and buy luxury products and services.

Data sourced from The Futures Company; additional content by Warc staff, 25 November 2009 http://www.warc.com/News/TopNews.asp?ID=25987&Origin=WARCNewsEmail