The Global Economic Crisis: The Impact On Consumer Attitudes & Behaviors in

The Global Economic Crisis: The Impact On Consumer Attitudes & Behaviors in Australia

Published Date: June 2009

Published By: Datamonitor

Page Count: 264

Order Code: R313-51644

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Description

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Introduction

More than two-thirds of Australians believe that they are currently living in a recession. This is indicative of an intensifying 'recessionary mindset' influencing consumer behavior. Symptomatic of falling consumer confidence is the fact that more than one-in-three Australians experienced a worsening financial situation, falling job security and falling confidence in the housing market in 2008-09

Scope

Detailed analysis documenting Australian consumers' 'recessionary mindset' and how it influences perceptions about current and future prospects
Insights highlighting how the economic downturn has affected Australians' perceived quality of life, emotional wellbeing and financial security
In-depth analysis of Australians' changing price sensitivity, value consciousness and attitudes towards private label across four major FMCG sectors
Countries and categories covered: Australia; food and non-alcoholic beverages, alcoholic beverages, personal care and household care

Highlights

41% of Australians feel their lifestyle has been impacted by the recession. Suddenly, Australian consumers have been forced to re-evaluate their spending, including where they do their grocery shopping as well as their in-store choices

30% of Australians are 'frequent buyers' of private label products. Australian shoppers are more likely to consider private label food products to be on a par, if not better than market leading brands than they are with soft and hot drinks. These attitudes vary markedly across the four sectors covered in this report

For more than half of Australian shoppers, lower prices have a high amount of influence over where people do their shopping. Nevertheless, the quality of products sold has more influence over their (changeable) grocery shopping destinations. This is symptomatic of the intensifying value-consciousness across FMCG product sectors

Reasons to Purchase

Gain a detailed understanding of changing consumer attitudes and behaviors amid the downturn in order to determine appropriate recessionary strategies
Obtain country and sector specific insight about pertinent recessionary themes such as private label and consumers' value consciousness
Assist consumer segmentation and targeting efforts by accessing data from two waves of primary research conducted in August 2008 and April 2009

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