NCA household budget survey october 2010

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How Ireland's consumers are coping with the recession.

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NCA household budget survey october 2010

  1. 1. National Consumer Agency Market Research Findings: Household Budgeting and Impact of the Recession October 2010 Research Conducted by
  2. 2. Table of Contents 2  Key Points  Household Budgeting and Impact of the Recession  Research Background & Methodology Making Complaints  Profile of Sample
  3. 3. Key Findings 3 • 62% of consumers have experienced a reduction in their household income in the last 12 months compared to the previous wave of market research conducted in Nov/Dec 2009(53% in Nov/Dec 2009). 64% stated that their expenditure has either remained the same or increased. • 38% of consumers disagree that Ireland will be through the worst of the recession in 12 months time. • 51% are not any more relaxed about spending than they were 6 months ago. • 66% of consumers have learnt to manage their finances better as a result of the recession and will continue to do so going forward. Making Complaints • Similar to Nov/Dec 2009; 61% are actively seeking out cheaper ways of living, and 59% would prefer to switch between brands of things they buy than do without them at all. • Consumers are continuing to remain positive; as despite the recession 7 in 10 claim to be enjoying life as much as ever. • 34% of consumers are spending more time ‘bargain hunting’ when buying groceries than they were pre- recession. 31% are spreading their shopping across a number of shops more, while the same proportion (30%) are spending less on their groceries overall.
  4. 4. Household Income & Expenditure 4 (Base: All aged 15-74– 1,000) Income Expenditure % % Increased a lot (5) (1) Increased a little (4) 4 (4) 6 (6) 15 (13) 29 Remained the same (3) Making Complaints (36) 64% 43 36 (38) (31) Decreased a little (2) 62% 22 26 (23) Decreased a lot (1) (22) 9 (12) Don’t know 5 (6) 5 (8)
  5. 5. One Word to Describe: Ireland Right Now 5 (Base: All aged 15-74 – 1,000) Making Complaints
  6. 6. One Word to Describe: How you Yourself Feel Right Now (Base: All aged 15-74 – 1,000) 6 Making Complaints
  7. 7. Economic Outlook – I 7 (Base: All aged 15-74 – 1,000) I will focus less on As a result of the Ireland will be through acquiring possessions and recession I will continue the worst of the more on having memorable to shop around for better recession in 12 months experiences such as deals even when the time holidays economy has settled % % % Strongly agree (5) 3 6 31% 38% 13 Agree (4) 28 Making Complaints 32 73% Neither/nor (3) 60 31 39 Disagree (2) 26 18 21 38% 23% 12 5 Strongly disagree (1) 5 1 6%
  8. 8. Economic Outlook – II (Base: All aged 15-74 – 1,000) 8 I am more relaxed about I have learnt to manage my spending money than I finances better as a result of the was six months ago recession and will continue to do so going forward % % Strongly agree (5) 1 22% 12 Agree (4) 21 66% Making Complaints Neither/nor (3) 27 54 Disagree (2) 36 24 51% Strongly disagree (1) 15 7 10% 3
  9. 9. Spending Thrift (Base: All aged 15-74– 1,000) 9 Wave 5 2010 Wave 4 2009 Strongly Strongly Neither/ Disagree Agree Nor /DK (1) (2) (4) (5) The recession has focused me on 3 7 45 27 (72) 18 thinking carefully about what and when I 16 buy 3 7 48 26 (74) The recession is a good opportunity to 3 9 46 21 (67) 21 pick up bargains in the sales 2 9 47 22 (69) 20 Making 15 I am consciously trying to buy fewer 2 Complaints 22 46 (68) 15 things nowadays 3 13 50 19 (69) 15 I am putting off buying large spend items 2 11 39 28 (67) 20 until the current situation improves 3 11 38 29 (67) 19 4 23 31 19 (50) When shopping I budget for every cent 23 7 21 34 16 (50) 22 I regret the amount of money I have 11 31 22 14 (36) 22 spent on stuff over the last few years 12 27 25 14 (39) 22
  10. 10. Coping Behaviour (Base: All aged 15-74– 1,000) 10 Wave 5 2010 Wave 4 2009 Strongly Strongly Neither/Nor Disagree Agree /Don’t Know (1) (2) (4) (5) I am actively seeking out cheaper ways 3 11 44 17 (61) 25 of living 26 3 8 46 17 (63) I would prefer to switch between brands of things I buy than do without Making14 3 Complaints 46 13 (59) 24 them at all 3 12 48 13 (61) 24 I still feel that it is better to pay more for quality products than settle for 3 18 41 14 (55) 24 cheaper brands 4 15 43 13 (56) 25 I prefer to go without than sacrifice on 7 31 27 8 (35) quality 27 7 27 30 8 (38) 28
  11. 11. Lifestyle (Base: All aged 15-74– 1,000) 11 Wave 5 2010 Wave 4 2009 Strongly Strongly Neither/Nor Disagree Agree /Don’t know (1) (2) (4) (5) Despite the recession I feel I am 2 10 55 15 (70) 18 19 enjoying life as much as ever 3 11 51 16 (67) Making Complaints I am cutting back on all non-essential 3 12 48 19 (67) 18 spending 3 10 43 23 (66) 21 I am reluctant to plan any holidays 6 20 29 19 (48) 26 until things improve in the economy 4 16 32 21 (53) 27 I am seeking out alternative ways to 5 20 36 14 (50) 25 socialise that are less expensive (52) 24 5 19 38 14
  12. 12. Change in Behaviour as A Result of Recession – I (Base: All aged 15-74– 1,000) 12 Less The Same More % % % Never did it Budgeting for household expenses 1 40 44 15 Collecting & using coupons when buying things 2 40 27 31 Using loyalty scheme points when making a purchase 2 43 28 27 Making Complaints Buying goods on special offer 3 43 44 10 Using online price comparison sites 3 24 11 62 Buying items online 5 29 8 58 Preparing home-made meals from scratch 3 51 29 17 Eating takeaway foods 39 41 5 15
  13. 13. Change in Behaviour as A Result of Recession – II (Base: All aged 15-74– 1,000) 13 Less More % The Same Never did % % it Spending time ‘bargain hunting’ when buying groceries 3 40 34 23 Spreading your shopping across a 4 42 31 23 number of shops Planning your weekly shopping in 3 44 21 32 advance Making Complaints Buying grocery items in bulk 38 185 39 Spend on groceries overall 30 49 8 13 Buying private label/own label goods 7 49 26 18 Buying Irish produced goods 12 61 14 13 Buying eco-friendly goods 11 52 11 26
  14. 14. One Word to Describe: Ireland in 12 Months Time (Base: All aged 15-74 – 1,000) 14 Making Complaints
  15. 15. One Word to Describe: Your Future (Base: All aged 15-74 – 1,000) 15 Making Complaints
  16. 16. Research Background and Methodology 16 Nov/Dec 2007 Aug 2008 Nov/Dec 2008 Benchmark Wave 1 Wave 2 May/June 2009 Nov/Dec 2009 June 2010 Making Complaints Wave 3 Wave 4 Wave 5 Current Wave • Amárach Research conducted the research by means of face-to-face interviewing with 1,000 people between the ages of 15-74. • In all, 6 comparable “Waves” of Market Research have been completed since November / December 2007. • To ensure that the data is nationally representative, quotas were applied on the basis of age, gender and social class. • Interviewing was conducted over a four week period in June 2010.
  17. 17. Profile of Sample (Base: All aged 15-74 – 1,000) 17 MARITAL SOCIAL SEX AGE STATUS CLASS MAIN GROCERY % % % % SHOPPER 15-24 20 Married Male ABC1 46% 46 41 41 Yes 54% No 25-34 Making Complaints 25 Living as Married 35-44 10 19 C2DE Single 47 Female 45-54 37 54 16 55+ 20 Wid/Div/ 8 F50+/ 9 Sep F50- Not stated 4 Not stated 3

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