New insight from Kantar Media's "Global Consumer
Perspectives" report suggests that rising numbers of middle-class
consumers across the world are on the look-out for savings when
shopping while also feeling guilty about spending on
non-essentials.
This shift in attitudes towards spending has been most
stark among middle-class consumers in Western nations, signalling a
prolonged shift in the mindset of this group, relative to their
counterparts in markets where economic growth has remained
robust.
The report shows how middle-class consumers in the UK are
72% more likely and those in the USA are 28% more likely than those
in rapidly growing economies to look for special offers. At the
same time, UK consumers are 21% less likely and US consumers are
26% less likely to be willing to pay extra for quality goods -
suggesting that consumers in these markets have adopted a bargain
hunter mentality.
The boom in daily deals websites such as Groupon and
Wowcher has allowed consumers to monitor the latest sales and
promotions in order to make their income stretch even
further, However, should the middle-classes become entrenched
in a bargain hunter mentality; it may take longer to
regain pre-crisis purchasing behaviours, even if the economic
conditions improve.
To read more from this study of consumers in ten major global
markets visit the Kantar Media TGI website.
Source: Kantar Media