nca household budget survey october 2010
DESCRIPTION
How Ireland's consumers are coping with the recession.TRANSCRIPT
National Consumer Agency
Market Research Findings:Household Budgeting and Impact of the Recession
October 2010Research Conducted by
2
Making Complaints
Key Points
Household Budgeting and Impact of the Recession
Research Background & Methodology
Profile of Sample
Table of Contents
3
Making Complaints
Key Findings
• 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.
• 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
Making Complaints
Household Income & Expenditure
(Base: All aged 15-74– 1,000)
64
1529
43
22
26
9
5 5
36
Increased a lot (5)Increased a little (4)
Remained the same (3)
Decreased a little (2)
Decreased a lot (1)
Don’t know
%
Expenditure
%
Income
62%
(1)(4)
(36)
(31)
(22)
(6)
(6)
(13)
(38)
(23)
(12)
(8)
64%
5
Making Complaints
One Word to Describe: Ireland Right Now
(Base: All aged 15-74 – 1,000)
6
Making Complaints
One Word to Describe: How you Yourself Feel Right Now
(Base: All aged 15-74 – 1,000)
7
Making Complaints
3 613
2832
6031
39
2118
5125 1
26
6%
Economic Outlook – I
(Base: All aged 15-74 – 1,000)
Strongly agree (5)
73%
%
As a result of the recession I will continue to shop around for better
deals even when the economy has settled
%
I will focus less on acquiring possessions and more on having memorable
experiences such as holidays
%
Ireland will be through the worst of the
recession in 12 months time
38%
23%38%
31%
Agree (4)
Neither/nor (3)
Disagree (2)
Strongly disagree (1)
8
Making Complaints
112
21
5427
24
7153
36
Economic Outlook – II
(Base: All aged 15-74 – 1,000)
Strongly agree (5)%
I have learnt to manage my finances better as a result of the recession and will continue to
do so going forward
%
I am more relaxed about spending money than I
was six months ago
66%
51%
22%Agree (4)
Neither/nor (3)
Disagree (2)
Strongly disagree (1) 10%
9
Making Complaints
Spending Thrift
(Base: All aged 15-74– 1,000)
The recession has focused me on
thinking carefully about what and when I
buy
The recession is a good opportunity to
pick up bargains in the sales
I am consciously trying to buy fewer
things nowadays
I am putting off buying large spend items
until the current situation improves
When shopping I budget for every cent
I regret the amount of money I have
spent on stuff over the last few years
(4)
Strongly Agree
(5)
Neither/ Nor /DK
1816
2120
1515
2019
2322
2222
(2)
StronglyDisagree
(1)
(74)
(69)
(69)
(67)
(50)
(39)
Wave 5 2010
Wave 4 2009
(72)
(67)
(68)
(67)
(50)
(36)
4548
4647
4650
3938
3134
2225
2726
2122
2219
2829
1916
1414
7
7
9
9
15
13
11
11
23
21
312712
11
7
4
2
3
3
2
2
3
3
3
10
Making Complaints
44
46
46
48
41
43
27
30
17
17
13
13
14
13
8
827
31
15
18
12
14
8
11
7
7
4
3
3
3
3
3
Coping Behaviour
(Base: All aged 15-74– 1,000)
I am actively seeking out cheaper ways
of living
I would prefer to switch between
brands of things I buy than do without
them at all
I still feel that it is better to pay more
for quality products than settle for
cheaper brands
I prefer to go without than sacrifice on
quality
Neither/Nor /Don’t Know
2526
2424
2425
2728
(61)
(4)
Strongly Agree
(5)(2)
StronglyDisagree
(1)
(63)
(59)
(61)
(55)
(56)
(35)
(38)
Wave 5 2010
Wave 4 2009
11
Making Complaints
55
51
48
43
29
32
36
38
15
16
19
23
19
21
14
1419
20
16
20
10
12
11
10
5
5
4
6
3
3
3
2
Lifestyle
(Base: All aged 15-74– 1,000)
Despite the recession I feel I am
enjoying life as much as ever
I am cutting back on all non-essential
spending
I am reluctant to plan any holidays
until things improve in the economy
I am seeking out alternative ways to
socialise that are less expensive
Neither/Nor /Don’t know
1819
1821
2627
2524
(67)
(66)
(53)
(52)
(4)
Strongly Agree
(5)(2)
StronglyDisagree
(1)
(70)
(50)
(48)
(67)
Wave 5 2010
Wave 4 2009
12
Making Complaints
40
40
43
43
24
29
51
41
44
27
28
44
11
8
29
539
3
5
3
3
2
2
1
Change in Behaviour as A Result of Recession – I
(Base: All aged 15-74– 1,000)
Budgeting for household expenses
Collecting & using coupons when
buying things
Using loyalty scheme points when
making a purchase
Buying goods on special offer
Using online price comparison sites
Buying items online
Preparing home-made meals from
scratch
Eating takeaway foods
Less%
The Same%
More% Never did
it
15
31
27
10
62
58
17
15
13
Making Complaints
Change in Behaviour as A Result of Recession – II
(Base: All aged 15-74– 1,000)
Less%
The Same%
More%
40
42
44
38
49
49
61
52
34
31
21
18
8
26
14
1111
12
7
30
5
3
4
3
Never did it
23
23
32
39
13
18
13
26
Spending time ‘bargain hunting’ when
buying groceries
Spreading your shopping across a
number of shops
Planning your weekly shopping in
advance
Buying grocery items in bulk
Spend on groceries overall
Buying private label/own label goods
Buying Irish produced goods
Buying eco-friendly goods
14
Making Complaints
One Word to Describe: Ireland in 12 Months Time
(Base: All aged 15-74 – 1,000)
15
Making Complaints
One Word to Describe: Your Future
(Base: All aged 15-74 – 1,000)
16
Making Complaints
• 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.
Research Background and Methodology
Nov/Dec 2007 Aug 2008 Nov/Dec 2008
May/June 2009 Nov/Dec 2009 June 2010
Benchmark
Wave 3 Wave 4
Wave 1 Wave 2
Wave 5
Current Wave
17
Making Complaints
20
41 41
25
47
19
37
9
16
83
204
46
10
54
SEX AGE
MARITAL
STATUS
SOCIAL
CLASS
Profile of Sample(Base: All aged 15-74 – 1,000)
Male
Female
% % % %15-24
25-34
35-44
45-54
55+
Married
Living as Married
Single
Wid/Div/Sep
ABC1
C2DE
F50+/F50-
MAIN GROCERY
SHOPPER
Yes No46%54%
Not statedNot stated