Navigation Links
New Study Shows That Despite Recession, Consumer 'Hold-Outs' Struggle To Have It All
Date:3/31/2009

PRINCETON, N.J., March 31 /PRNewswire/ -- Americans' financial security has been shaken, yet they are divided in their willingness to make spending cuts. While nearly half (49%) of all adults are not ready to compromise their standard of living, the other half see little choice, according to a new study by Multi-sponsor Surveys.

(Photo: http://www.newscom.com/cgi-bin/prnh/20090331/NY90900)

The results of the 2009 Economic Impact Market Segmentation Study show that consumers are making the strongest efforts to limit spending on vacations (45% making strong effort), dining out (45%), entertainment (44%) and clothing (43%). Most find it hardest to cut back on food, heat/utilities, healthcare and transportation. Parents are particularly reluctant to reduce spending on their children, with only 19% of parents making a strong effort to limit those expenses.

This national survey of 1,008 adults conducted in late February identified five distinct consumer segments, each facing the recession from a different perspective.

Roughly one in three (34%) adults fall into the two groups hit hardest by the recession and forced to make painful cutbacks in spending - - the Down & Out and On-the-Edge segments. Most of these consumers have experienced job loss, pay cuts or loss of insurance coverage.

One in five (19%) are Hold-Outs -- a young group clinging to their standard of living despite being on shaky financial ground. They are most likely to agree they have "probably been living beyond (their) means for years."

Nearly half (47%) of adults are in the two most financially secure groups -- Cautious Optimists and Secure Spenders. While Secure Spenders typically see no reason to compromise their standard of living, Cautious Optimists are more willing to curtail spending for what they believe will be a short-term recession.

No product category is immune to consumer cutbacks, although some are better positioned than others. For example, "necessities" such as prescription medicine, toothpaste and fresh fruits/vegetables have suffered far fewer cutbacks than discretionary purchases like anti-aging skin care products, organic produce and bottled water. Across all product categories, the most dramatic spending cuts have been made by the Down & Out and On-the-Edge segments.

Multi-sponsor Surveys will continue to track the buying habits of these consumer segments at two-month intervals in order to gauge the recession's impact on consumer spending for healthcare, medicine, food/beverages, dietary supplements, personal care products, and other categories.

Methodology

The 2009 Economic Impact Market Segmentation Study was conducted online between February 25 and March 1, 2009 among a national sample of 1,008 U.S. residents age 18 or older. The sample was weighted, as necessary, to conform to U.S. Census profiles of the adult population.

Multi-sponsor Surveys, Inc. is a diversified, syndicated market research company that develops, conducts and markets consumer and professional market research programs and services. Established in 1989, Multi-sponsor Surveys conducts over 100 major, primary research studies each year in the areas of food, beverage & nutrition, pharmaceutical & healthcare, beauty & personal care, pet care, and other consumer goods and services. For more information about Multi-sponsor Surveys, Inc., visit: www.multisponsor.com or call +1-609-924-7772.


'/>"/>
SOURCE Multi-sponsor Surveys, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Penn study finds pro-death proteins required to regulate healthy immune function
2. New study shows promise in reducing surgical risks associated with surgical bleeding
3. Study, meta-analysis examine factors associated with death from heatstroke
4. Study suggests loss of 2 types of neurons -- not just 1 -- triggers Parkinsons symptoms
5. Study says COPD testing is not measuring up
6. Preclinical study suggests organ-transplant drug may aid in lupus fight
7. Ability to cope with stress can increase good cholesterol in older white men, study finds
8. High alcohol consumption increases stroke risk, Tulane study says
9. Mailman School of Public Health study examines link between racial discrimination and substance use
10. Pitt study finds inequality in tobacco advertising
11. Stanford study highlights cost-effective method of lowering heart disease risks
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/6/2016)... ... May 06, 2016 , ... DrugDev President ... the way the pharmaceutical industry conducts clinical trials. This month Ibs was named No. ... in pharma, and he was honored as a Tech Disruptor by the Philadelphia Business ...
(Date:5/6/2016)... ... May 06, 2016 , ... ... Service, their latest implementation service offering for global clients of Coupa ( Coupa ... , Bluvault’s Integration Service is a key component in the suite of ...
(Date:5/6/2016)... (PRWEB) , ... May 06, 2016 , ... From May ... Chicago, IL, offering EarQ members the unique opportunity to learn more about Signia’s technology ... independent practice growth. , “It is our priority to see practices succeed in this ...
(Date:5/6/2016)... ... 2016 , ... Multiple award winning plumbing company in San Diego, ... Maintaining core values of exceptional customer service, quality work at reasonable rates, and giving ... in San Diego plumbing, and other services including heating & air conditioning and restoration ...
(Date:5/6/2016)... LA (PRWEB) , ... May 06, 2016 , ... ... Health System and David Konur, CEO of Cardiovascular Institute of the South announced ... will be performing a live case of an Intravascular Ultrasound Guided Coronary Atherectomy. ...
Breaking Medicine News(10 mins):
(Date:5/5/2016)... 2016  Replikins Ltd. today reported initial promising results in animal trials of its ... http://photos.prnewswire.com/prnh/20160505/364345 ... ... ... specimens recorded on Pubmed. The analysis identified the highest gene Replikin Counts in Zika ...
(Date:5/5/2016)... , May 5, 2016  Diagnostic imaging has ... due to concerns that these tests cause health care costs ... to imaging, as well as the adoption of ... of medical peripherals that help health care providers cut costs, ...  advanced medical imaging is a renowned authorized reseller of ...
(Date:5/5/2016)... 2016 Research and ... Thalassaemia Market and Competitive Landscape Highlights - ...      (Logo: http://photos.prnewswire.com/prnh/20160330/349511LOGO ) ... Competitive Landscape Highlights - 2016, provides comprehensive ... Thalassaemia market valuations and forecast, Thalassaemia products ...
Breaking Medicine Technology: