1、STAYING AHEAD OF THE DOWNTURNGLOBAL CONSUMER TRENDSOVERVIEWGLOBAL CONSUMER TRENDS:STAYING AHEAD OF THE DOWNTURNThe tsunami of troubling news surrounding the state of the global economy refmects the struggles of many consumers,who face myriad waves of fjnancial obstacles not the least of which is an

2、uncertain future.People are pessimistic about economic conditions around the world and perception matters.Almost half“strongly”or“very much”believe were entering a recession(regardless of offjcial determinations or economists assessments),and a majority say their national leaders arent doing enough

3、to fjght rising costs.Consumers around the world are feeling the burden of soaring prices on essential items:almost one in three are currently fjghting to make ends meet,and more than half are struggling to afford basic needs with energy at the forefront followed by food,basic clothing and housing p

4、ayments.To cope with climbing costs and the threat of a downturn or recession,more than half of consumers are reevaluating their lifestyles.People are resorting to different ways to reducing their overall spending especially on non-essential purchases as well as exploring the secondhand market.Howev

5、er,consumers and especially younger generations remain willing to spend extra on products and services that refmect their values or that are perceived as healthier and/or environmentally friendly.A large majority expects to continue purchasing these products and services,even if they cost more.Dynat

6、as latest research,“Global Consumer Trends:Staying Ahead of the Downturn,”draws on responses from 11,000 consumers across 11 countries the United States,Canada,United Kingdom,France,Spain,Germany,Italy,Netherlands,China,Japan and Australia to better understand how the evolving economic landscape aff

7、ects consumers behavior and impacts brands.KEY FINDINGSCONSUMER PERCEPTION MATTERSPEOPLE ARE CUTTING CONSUMPTION AND CHANGING BEHAVIORMANY STRUGGLE TO MAKE ENDS MEETWHEN ITS WORTH PAYING MOREPeople are pessimistic about the global economic situation and dont believe their national leaders are doing

8、enough to fjght rising costsConsumers are trying to ease the impact of infmation by reducing their overall spending especially on non-essential purchases and exploring the secondhand marketFeeling both the burden of soaring prices and the threat of a recession,consumers are struggling to afford basi

9、c needs,trying to save more,and fjnding higher-paying or second jobsConsumers especially younger generations remain willing to spend extra on products and services that refmect their values and they expect to continue doing soof consumers globally strongly or very much believe we are entering a rece

10、ssion73%are struggling at least slightly to afford non-essential expenses1 in 5“almost always”or“often”pay more for a brand,product or service that represents their values;higher among Gen Z and Millennialshave taken action to reduce spending this year8 in 10 say they are likely to continue even if

11、it costs moreare buying secondhand productsglobally are struggling at least slightly to afford basic needs especially energy&utilities,followed by food,basic clothing and housingsay their countrys leaders are not doing enough to combat infmationare trying to save more than a year ago49%49%56%53%67%2

12、7%CONSUMER PERCEPTION MATTERSPeople are pessimistic about the global economic situation and dont believe their national leaders are doing enough to fjght rising costsCONSUMER PERCEPTIONS HAVE THE POWER TO INFLUENCE THE ECONOMY%“STRONGLY”OR“VERY MUCH”BELIEVE THAT WE ARE IN A RECESSION RIGHT NOWGLOBAL

13、49%CONSUMER PERCEPTION MATTERSHALF OF CONSUMERS AROUND THE WORLD BELIEVE“STRONGLY”OR“VERY MUCH”THAT WE ARE ENTERING A RECESSION NOWglobally believe“strongly”or“very much”that we are in a recession nowThis sentiment is the strongest in the U.K.,Spain,Canada and the U.S.49%61%60%57%56%49%48%44%24%47%4

14、6%45%A MAJORITY OF PEOPLE ALSO BELIEVE THEIR COUNTRYS LEADERS SHOULD BE DOING MORE TO KEEP INFLATION IN CHECK%WHO SAY THEIR COUNTRYS LEADERS ARE NOT DOING ENOUGH TO COMBAT INFLATIONGLOBAL56%67%67%65%61%61%51%29%CONSUMER PERCEPTION MATTERSGlobally,56%of consumers say their countrys leaders are not do

15、ing enough to combat infmation.People in Italy,the U.K.and Spain are most likely to think their leaders should be taking greater action54%54%54%52%ABOUT 1 IN 4 CONSUMERS GLOBALLY THINK THEIR PERSONAL FINANCES WILL WORSEN THIS YEAR26%globally expect their fjnancial situation will be worse at the end

16、of 2022 than it is nowCONSUMER PERCEPTION MATTERSThe expectation that ones personal fjnances will worsen by the end of the year is especially high in the U.K.,Germany and Spain:47%35%28%MANY STRUGGLE TO MAKE ENDS MEETFeeling both the burden of soaring prices on essential items and the threat of a re

17、cession,consumers around the world are struggling to afford basic needs,trying to save more,and fjnding higher-paying or second jobsMANY STRUGGLE TO MAKE ENDS MEETALMOST 3 IN 10 CONSUMERS GLOBALLY ARE STRUGGLING TO MAKE ENDS MEET%WHO ARE STRUGGLING TO MAKE ENDS MEET FINANCIALLYGLOBAL28%34%33%31%31%3

18、0%29%28%22%18%Globally,28%of consumers say they are struggling to make ends meet fjnancially28%26%26%SOME CONSUMERS FEEL BURDENED BY DEBT ESPECIALLY IN THE U.S.,CANADA AND AUSTRALIA%HAVE TOO MUCH DEBT29%26%25%22%19%17%17%15%14%12%10%of consumers globally say they have too much debtGLOBAL19%19%MANY S

19、TRUGGLE TO MAKE ENDS MEET28%OVER HALF OF PEOPLE GLOBALLY ARE FINDING IT HARD TO PAY FOR BASIC NEEDS,WITH ENERGY AT THE FOREFRONT53%globally are struggling at least slightly to afford basic needsIncluding 9%who are struggling“completely”or“a lot”BASIC NEEDS THAT PEOPLE ARE STRUGGLING TO AFFORDAmong t

20、hose struggling to afford basic needs at least slightlyEnergy&utilities(inc.gas/petrol)48%Food38%Basic clothing/shoes35%Housing payments29%Health/medical care26%Credit cards/loans/repayments24%55%40%34%36%34%39%35%33%43%43%43%56%53%53%65%58%58%Top 3MANY STRUGGLE TO MAKE ENDS MEET%STRUGGLING TO AFFOR

21、D ENERGY/UTILITIES NOW65%58%58%52%50%49%44%43%41%40%18%GLOBAL48%Consumers in the U.K.are having the most diffjculty paying for energy right now,followed by Australia and GermanyMANY STRUGGLE TO MAKE ENDS MEETHALF OF CONSUMERS ARE STRUGGLING TO PAY FOR ENERGY,WITH SOME COUNTRIES HAVING MORE DIFFICULT

22、YChina is struggling the least with energy pricesmore likely toSOME PEOPLE ARE TAKING HIGHER-PAYING OR SECOND JOBS TO OFFSET THEIR FINANCIAL STRUGGLESMANY STRUGGLE TO MAKE ENDS MEETCompared to Gen X and Baby Boomers(41-76 years old),people from the younger generations(Gen Z and Millennials)are:3Xhav

23、e taken a second jobhave taken a new job with higher pay to offset rising costsHALF OF CONSUMERS ARE MAKING A MORE CONCERTED EFFORT TO SAVE THAN A YEAR AGO%TRYING TO SAVE MORE THAN A YEAR AGO66%59%54%52%50%50%49%40%27%GLOBAL49%Globally,49%are trying to save more than a year ago.The urge to save more

24、 is strongest in Italy and SpainMANY STRUGGLE TO MAKE ENDS MEET46%46%CONSUMERS ARE CUTTING CONSUMPTION AND CHANGING BEHAVIORTo cope with climbing costs,consumers hope to ease the impact of infmation by reducing their overall spending especially on non-essential purchases and exploring the secondhand

25、 marketCONSUMERS ARE CUTTING CONSUMPTION AND CHANGING BEHAVIORCONSUMERS STRUGGLING TO AFFORD“NON-ESSENTIALS”ARE SPENDING LESS ON TRAVEL,ENTERTAINMENT,FASHION AND DINING73%globally are struggling at least slightly to afford non-essential purchases(things that they might want but not necessarily need)

26、Including 18%who are struggling“completely”or“a lot”COMPARED WITH THE BEGINNING OF 2022,%SPENDING LESS ON THESE“NON-ESSENTIALS”Among all struggling,at least slightly,to afford the non-essentials they used to buyIn-person entertainment(movies,concerts,sports,etc.)Leisure travelRestaurants(dining in,t

27、ake-out or delivery)Fashion/clothing beyond a basic wardrobeGrooming/beauty Home improvementsSubscriptions/memberships(TV streaming services,fjtness classes,meal services,etc.)61%61%59%59%49%42%57%COMPARED WITH THE BEGINNING OF 2022,%SPENDING LESS ON THESE“NON-ESSENTIALS”(BY GENERATION)Among all str

28、uggling,at least slightly,to afford the non-essentials they used to buyCONSUMERS ARE CUTTING CONSUMPTION AND CHANGING BEHAVIORBABY BOOMERS ARE MUCH MORE LIKELY THAN GEN Z TO HAVE CUT SPENDING THIS YEAR ON ENTERTAINMENT,FASHION,RESTAURANTS AND TRAVEL7 IN 10 Baby Boomers are spending less now on dinin

29、g,entertainment,clothing and travel than at the beginning of the yearGen ZBaby Boomers Leisure travel Gen XMillennialsIn-person entertainment(movies,concerts,sports,etc.)Fashion/clothing beyond a basic wardrobeRestaurants72%65%54%46%72%63%51%42%70%65%52%42%70%65%54%49%ACTIONS THAT CONSUMERS SAY HAVE

30、 BEEN MOST EFFECTIVE FOR REDUCING THEIR SPENDING IN 2022Among those who have taken action to reduce spendingCONSUMERS ARE CUTTING CONSUMPTION AND CHANGING BEHAVIORTHOSE TRYING TO SPEND LESS HAVE FOUND BARGAIN-HUNTING,USING LESS ENERGY,AND COOKING TO BE MOST EFFECTIVE67%of people globally have taken

31、action to reduce their spending since the beginning of the year34%say they wont buy anything thats not discounted55%47%44%76%75%73%72%71%69%67%66%63%56%44%41%Seek out deals65%Reduce energy consumption58%Cook more/prepare meals at home56%Buy imperfect/secondhand items37%Avoid temptation by browsing l

32、ess in stores/online40%Drive less or take public transport48%45%45%51%45%CONSUMERS ARE CUTTING CONSUMPTION AND CHANGING BEHAVIORINFLATION IS MOTIVATING SOME CONSUMERS TO BUY SECONDHANDof consumers globally have been buying more secondhand items as a result of rising prices.This is especially the cas

33、e for Gen Z and Millennials27%35%32%26%18%Gen ZBaby BoomersGen XMillennialsCONSUMERS ARE CUTTING CONSUMPTION AND CHANGING BEHAVIORTHOSE WHO ARE FINANCIALLY COMFORTABLE ARE FINDING WAYS TO MAKE THEIR MONEY GO FURTHERAMONG THOSE AT LEAST SOMEWHAT FINANCIALLY COMFORTABLE RIGHT NOW,%INVESTING IN/DOING A

34、NY OF THESE THINGSInvesting in stocks,mutual funds,bonds,etc.JP(43%)CN(43%)CA(36%)Planning a vacation/holiday in a country where your currency goes furtherU.K.(26%)DE(25%)CA(25%)Buying an electric or hybrid vehicleCN(33%)IT(17%)JP(15%)Investing in real estate/property in your own countryCN(21%)AU(13

35、%)IT(13%)Investing in real estate/property in a country where your currency goes furtherCN(12%)U.S.(9%)IT(9%)29%22%14%12%8%Some who feel fjnancially comfortable are investing in the stock market,buying more energy-effjcient cars,and buying real estateWHEN ITS WORTH PAYING MOREConsumers especially yo

36、unger generations remain willing to spend extra on products and services that refmect their values and they expect to continue doing so1 IN 5 CONSUMERS GLOBALLY ARE“VALUES-DRIVEN,”OPTING TO PAY MORE FOR THINGS THAT REPRESENT THEIR VALUESVALUES-DRIVEN CONSUMERS“Almost always”or“often”pay more for a b

37、rand,product or service because it represents their values30%24%22%22%21%21%20%20%18%18%7%20%WHEN ITS WORTH PAYING MOREGLOBALGen Z and Millennials,as well as consumers in China,are most likely to say they“almost always”or“often”pay more for something that represents their values32%30%17%10%Gen ZBaby

38、 BoomersGen XMillennials“VALUES-DRIVEN”CONSUMERS ARE MOST LIKELY TO SPEND EXTRA FOR ITEMS THEY CONSIDER HIGHER-QUALITY AND HEALTHIER%“VALUES-DRIVEN”CONSUMERS WHO“ALMOST ALWAYS”OR“OFTEN”BUY BRANDS,PRODUCTS,OR SERVICES WITH THESE FEATURESWHEN ITS WORTH PAYING MOREMore than half of“values-driven”consum

39、ers also report frequently spending on things that are local,sustainable and have a brand they perceive as authenticWell-made and will last longerSafer or healthier(less exposure to dangerous chemicals,etc.)Locally-made and supports the local economyEnvironmentally friendly/sustainable practicesBran

40、d is authentic(words&actions in alignment)Supports a social justice cause64%62%55%54%55%42%8 IN 10 “values-driven”consumers who“almost always”or“often”buy products with these features say they are likely to continue even if it costs more%“VALUES-DRIVEN”CONSUMERS WHO“ALMOST ALWAYS”OR“OFTEN”BUY BRANDS

41、,PRODUCTS,OR SERVICES WITH THESE FEATURES(BY GENERATION)Items with environmentally friendly or sustainable practices have similar appeal across generationsSOCIAL JUSTICE CAUSES HAVE ESPECIALLY STRONG APPEAL AMONG GEN Z AND MILLENNIAL“VALUES-DRIVEN”CONSUMERSGen ZBaby BoomersSupports a social justice

42、causeGen XMillennialsWell-made and will last longerSafer or healther(less exposure to dangerous chemicals,etc.)Locally-made and supports the local economy75%67%59%61%66%65%58%60%58%58%55%50%32%39%44%50%WHEN ITS WORTH PAYING MOREThe generational differences are most apparent for products that support

43、 social justice causes younger consumers who are “values-driven”are much more likely to purchase them“Values-driven”consumers who are Baby Boomers and Gen X are more likely than Gen Z and Millennials to favor products or brands that are perceived as higher-quality,safer(such as having less exposure

44、to dangerous chemicals)or locally madeMETHODOLOGY Dynatas newest research,“Global Consumer Trends:Staying Ahead of the Downturn,”draws on responses from 11,000 consumers across 11 countries the United States,Canada,United Kingdom,France,Germany,Italy,Spain,the Netherlands,China,Japan and Australia t

45、o better understand how the evolving economic landscape affects consumers behavior and impacts brands.Fieldwork took place between Aug.1-8,2022.Participants were selected across all Dynatas online research panel assets,and the samples quota-controlled to refmect the population on age,gender and regi

46、on.Generations were broken out as follows:Gen Z,age 16-25;Millennial,26-40;Gen X,41-57;Baby Boomer,58-76;and Silent,77+.Total sample size is 11,103:U.S.(1,000),Canada(1,010),U.K.(1,005),France(1,008),Germany(1,006),Italy(1,012),Spain(1,012),the Netherlands(1,014),China(1,012),Japan(1,015)and Australia(1,007).The margin of error(at the 95%confjdence level)is+/-3%at the country level,+/-1%at the total 2022 Dynata,LLC.All rights reserved.For more information,please visit or contact .