Rising Prices And An Economic Downturn: What Will Consumers Do Next?

Introduction

This presentation explores the impact of rising prices, the economic downturn and equally important prevailing consumer trends in Australia, the UK and the US.

Scope

• A conference presentation given by Datamonitor's New Consumer Insight (NCI) team in September 2008.
• This presentation combines consumer trend analysis with market observations.

Industry players must ensure that they don't ignore broader consumer needs amidst all this doom laden discourse surrounding the economy. Shoppers are still buying products based on a broad range of needs and wider influencing trends. It is not just a case of delivering lower prices to satisfy intensifying cost consciousness.

Food prices increasing above and beyond inflation. The World Bank reports that global food prices rose 83% over the last three years and the FAO cites a 45% increase in their world food price index during just the past nine months.

41% of Australians felt that ""it is difficult to manage daily obligations and find time to relax"" when Datamonitor surveyed consumers in August 2008.

Reasons to Purchase

• Understand how consumer attitudes are likely to affect future purchase decisions.
• Access unique survey insight to understand how consumers in the UK, Australia and the US are thinking and behaving.