Some results from a worldwide research study by Synovate:
52% — of Americans say they have permanently changed their attitudes regarding the importance of saving money
42% — of Americans are looking forward to being able to spend freely again
59% — of Americans who said they are going to do their best to not go back to the way they spent before
For more information, visit www.synovate.com/insights
And research-based projections from another company, Decitica:
There will be four distinct consumer segments “after the smoke clears” from the recession:
- Involuntary Penny-Pinchers (29%) have been severely affected by the recession. They are mainly made up of households with less than $50,000 in income. Their behaviors now reflect those of the Steadfast Frugalists – but they don’t revel in it like that group. Only 17% find buying store or generic brands satisfying as opposed to 59% of the Frugalists. They are, however, the group that admits to being most scared by the recession. They are 87% more worried about the future than the other groups.
- Steadfast Frugalists (20%) are committed to self-restraint, engaging in prudence with enthusiasm. 80% of these folks say the behaviors they have adopted will likely stay with them for a long time. 29% consider themselves “tightwads”. They are least brand-loyal and most likely to discount marketing messages.
- Pragmatic Spenders (29%) are consumers whose income has blunted the effects of the recession. Only 28% of them feel the recession has changed what and how they will buy in the future. They are more likely to be over 60 and from the Northeast or West.
- Apathetic Materialists (22%) seem least changed by the recession. They have not embraced the new frugality to the same extent as the other groups and get minimal satisfaction from frugal behavior. The group has more men and younger consumers than the other groups.
