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The Global Economic Crisis: The Impact On Consumer Attitudes & Behaviors in the United States
Datamonitor, July 2009, Pages: 94
90% of US consumers 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 US consumers experienced a worsening financial situation, falling job security and falling confidence in the housing market in 2008-09.
Scope
- Detailed analysis documenting US consumers recessionary mindset and how this influences perceptions about current and future prospects
- Insights highlighting how the economic downturn has affected perceived quality of life, emotional wellbeing and financial security in the US
- In-depth analysis of US shoppers changing price sensitivity, value consciousness and attitudes towards private label across four major FMCG sectors
- Countries and categories covered: US; food and non-alcoholic beverages, alcoholic beverages, personal care and household care
Highlights of this title
56% of US consumers feel that their lifestyle has been impacted by the recession. Suddenly, they have been forced to re-evaluate their spending, including where they do their grocery shopping as well as their in-store choices
44% of US shoppers are frequent buyers of private label products. Many are now likely to consider private label products to be on a par, if not better than market leading brands across sectors
For 72% of US shoppers, lower prices have a high amount of influence over where people do their shopping. Nevertheless, the quality of products sold similar influence over their (changeable) grocery shopping destinations. This is symptomatic of the intensifying value-consciousness across FMCG product sectors
Key reasons to purchase this title
- 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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