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Strategy Briefing

Post-Recession Spending Characteristics in Developed Markets

22 pages, Aug 2017

US$1,325

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About This Report

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If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

The year 2017 marks a decade since the global credit crunch and subsequent downturn that had a lasting impact on the way people think, spend and shop. With economic recovery finally on the horizon, a new generation of savvy, connected and more cautious consumers are taking stock of their values and priorities. This first of two reports focuses on income and expenditure patterns and attitudes towards spending, saving and borrowing in developed markets.

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Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

Spending impacted by economic and social change

Consumer spending in developed markets was shaped in the decade from 2007 to 2017 by factors such as economic uncertainty, squeezed middle class, technology, population ageing and growing environmental concerns. Overall, the share of discretionary spending fell, due to falling incomes and rising housing costs.

Signs of a global upturn

The global economy is forecast to improve in 2017, with GDP growing, unemployment falling and consumer confidence up in many developed markets. Nevertheless, consumers remain cautious, with 51% intending to save more money in 2017.

Income inequality continues to rise

Incomes have fallen in many developed markets, while the gap between the rich and the poor has widened everywhere. Young people are particularly affected by debts, lower salaries and high housing costs.

Savvy shoppers

Post-recession shoppers are more frugal and better informed than ever before, largely due to the development of e-commerce and m-commerce. The emphasis has shifted from the lowest prices to the best value for money, and bargain hunting has become an entrenched mentality.

Living for the moment

A notable legacy of the recession has been a shift among young consumers towards short-term financial thinking and a mentality that prioritises quality of life over money, and experiences and memories over material goods. This is linked with the rapid development of the sharing economy.

Post-recession winners

Sectors benefiting from the post-recession mindset include all types of discount retailer, tourism, consumer foodservice and leisure services, healthcare products, affordable luxury goods, home crafted and eco-friendly products, and financial lending.

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Introduction

Scope

Key findings

A decade on: Growth still sluggish

Rising consumer confidence, but shoppers remain cautious

Income inequality has worsened

Variations in income gains

Spending Patterns

Attitudes towards savings vary across markets

The rising debt burden

Uneven discretionary spending power

Health goods and medical services saw the biggest spend increase

Impact on Buying Behaviour

Shopping habits: The legacy of the recession

Shoppers prioritise value for money

The shift to online retailing continues apace

“ Make do and mend” mentality impacts spending

Living for the moment

The rise of the sharing economy

Outlook

Trends to watch

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Megatrends

Strategy Briefing

Post-Recession Spending Characteristics in Developed Markets

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

Spending impacted by economic and social change

Signs of a global upturn

Income inequality continues to rise

Savvy shoppers

Living for the moment

Post-recession winners

Want to find out more about this report?

Table of Contents

Introduction

Scope

Key findings

A decade on: Growth still sluggish

Rising consumer confidence, but shoppers remain cautious

Income inequality has worsened

Variations in income gains

Spending Patterns

Attitudes towards savings vary across markets

The rising debt burden

Uneven discretionary spending power

Health goods and medical services saw the biggest spend increase

Impact on Buying Behaviour

Shopping habits: The legacy of the recession

Shoppers prioritise value for money

The shift to online retailing continues apace

“ Make do and mend” mentality impacts spending

Living for the moment

The rise of the sharing economy

Outlook

Trends to watch

Why buy this report?

Want to find out more about this report?

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Complete Catalogue

Global Survey Reports

Economies and Consumers

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Complete Catalogue

Global Survey Reports

Economies and Consumers