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â–¶ U.S. Consumers Could Resume Old Spending Habits: More than 30% of U.S. shoppers expect they will “never go back” to their purchasing habits from before the financial crisis, but this figure is declining, according to a survey by McKinsey & Co.
The survey, which took the pulse of 1,000 adults, found that 35% of consumers predict their spending “will probably never go back” to former levels. However, scores on this metric have contracted from 41% in September 2011 and 39% in March 2011, indicating a discernible softening in attitudes. Other results include:
• Nearly a quarter of the respondents (24%) anticipate pursuing their previous consumption habits once the economy is “back on track,” a total reaching a recent high of 34% in September 2010, falling to 30% in September 2011.
• Only 35% of shoppers were still reducing their outlay, a reading that stood at 55% in August 2008 before peaking at 65% in February 2009, gradually declining to 45% by September 2011.
• Just 31% of contributors are now living “paycheck to paycheck”, and 29% report delaying purchases due to economic uncertainty, both down by 10% year on year.
• Nearly a majority of the respondents (93%) said they intend to maintain or increase their spending on store brands in 2013, regardless of their financial situation, primarily thanks to “more-positive-than-expected” experiences with these offerings.
Source: McKinsey & Co.
â–¶ A New Wake Up Call for PR: According to the 2012 Cisco Connected World Technology Report (CCWTR.), 90% of Generation Y said they check their smartphones for updates in email, texts and social media sites, often before they get out of bed.
The survey, which was conducted by InsightExpress, is based on interviews with 1,800 college students and young professionals aged 18 to 30, living in 18 countries. It examines how Gen Y uses the Internet and mobile devices to connect with the world around them. (Editor’s Note: For more insights into mobile outreach, see the Q&A with Edelman’s Steve Rubel in this issue.) Here are some nuggets from the survey:
• More than one in four Gen Y respondents (29%) say they check their smartphones so constantly that they lose count.
• Globally, one in five people in Gen Y check a smartphone for email, text and social media updates at least every 10 minutes. In the U.S., two out of five members of Gen Y check for such things at least once every 10 minutes.
• One-third of respondents check their smartphones at least once every 30 minutes; in the U.S., that figure jumps to more than 50%.
• More than half mainly use mobile applications for games and entertainment.
• More than a quarter (27%) mainly use mobile applications for work. PRN
Source: Cisco/InsightExpress