Research undertaken by SaveAFewBob.ie has revealed that Irish consumers have significantly reduced personal spending in 2009. The Vices and Indulgences survey, conducted by RED C, identified the areas of expenditure, as well as the demographics, that have experienced the most radical change.
The results confirm that personal spending has undergone a serious overhaul. A frugal mindset has swept the nation. The majority of consumers are now saving money by cutting back on discretionary items. The food and drink industry along with the retail sector are being hardest hit as consumers see clothes shopping, eating out and drinking as the primary areas where they can tighten their belts.
Consumers saving money on discretionary items
The results show that the overwhelming majority of Irish consumers have attempted to kick bad spending habits. In an effort to save money, 87% of survey participants indicated that they have reduced the frequency of at least one of the activities listed below…
Eating Out
- Over half (53%) of survey participants claim to be eating out less now compared to this time last year
- This decrease in activity is more prevalent among those aged 25-54, at 62%
- Those married are cohabiting also show reduced eating out compared to singles (47%)
Alcohol
- 40% of individuals claim to be drinking alcohol less often
- The decrease frequency in drinking alcohol is highest among the 35-54 age categories at 46%
Smoking
- 16% of survey respondents claim to have reduced their frequency of smoking
- The number of individuals who claim to smoke less often was higher among those under 35 (23%) and lower among those over 55 (7%). Seemingly, life-long habits are more difficult to overcome…
Clothes Shopping
- Half of the population claim to be clothes shopping less often than they were at the same time last year
- 55% of women and 44% of men are clothes shopping less frequently
Hairdresser Visits
- One-third of survey participants claim to visit the hairdresser less often than this time last year
- 43% of females have reduced their visits to the hairdressers
Markedly, 67% of all female survey participants claim to have reduced their frequency of either clothes shopping or visits to the hair salon.
Take Away Coffee
- Two in five (40%) of respondents claim to purchase take away coffee less often than at the same time last year
- For the under 35s the decrease is more evident, at 45%
Gambling and Lotto
- One in four (26%) claim to be playing Lotto less often now than this time last year
- However, 12% now claim to be playing more often!
- One in five (19%) claim to be gambling less frequently in 2009 compared to 2008
Research was conducted by independent market research agency, RED C Research. Results are based on a nationally representative sample of 1,005 adults, with research conducted via telephone omnibus between 5th & 7th September 2009.
Tags: consumers cut costs, RED C, spending habits, survey results
(2 votes, average: 5.00 out of 5)
Loading ...
