Monday, June 01, 2009

Crisis Change Consumer Behavior

Global financial crisis may have forced many people cancel they holiday dreams. However, it seems consumers still want to spend money for goods that are important, for example beauty products and health care products.

An international survey by market research company, Synovate, shows the expenditures for cosmetics and health care seems to stand still. In fact, recent economic decline has changed the behavior of consumers around the world.

Surveys find that, 41 percent of people plan to spend the same amount for cosmetics, such as before starting this crisis. Only 27 percent who say they will reduce the expenditure.

Meanwhile, products for health care, 55 percent of respondents said they would spend the same amount. Only only 17 percent of which will reduce the expenditure.

Surveys that ask 11,500 people in dozens of countries, including Brazil, Greece, Mexico, Netherlands, Russia, UK, and USA.

Despite a dismal economic forecasts in their countries, respondents from Denmark, Brazil, and Malaysia is the most optimistic about their economic strength. As for those from the U.S. and UK respondents are the most pessimistic.

U.S. has been stuck in a recessionary economy. Meanwhile, data showed the UK in December to move to near recession. Economic crisis since the show years ago, started from the U.S. housing sector crisis, which then hit the global financial markets and mengimbas to the world economy.

Overall, consumers in many countries to reduce their spending money for luxury goods.

Only 10 percent of respondents in Brazil that recognizes akan spends more for luxury goods. While 49 percent of Hong Kong and 72 percent of Denmark, said their spending for luxury goods will remain the same.

More consumers, especially in Brazil, English, French, Greek, and the U.S., said, they will see more stringent price before the transaction.

However, many buyers in Malaysia, Taiwan, and Hong Kong who say they are not looking at the price of goods before purchase.

Now, without planning to buy into the story then. No more buyers are buying things only because of the mood. This shown by about 82 percent of Americans, 76 percent of the UK, 78 percent of the Belgium, and 70 percent people of France.

However, 55 percent of the Hong Kong and 72 percent of the Danish people are impulsive in buying the same amount as before.

Holiday and branded things are the first things that must be left for the family budget cut. However, these options vary across the world.

For the United States and Greece, eating in restaurants with family and friends is the first thing that must be left. While the delay Romania buy high equipment.

Serbian compromising choose a holiday, but 81 percent of the Danish no mention that they left away.

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