A study finds people still spending on beauty
That dream holiday may have been shelved by the economic downturn, but consumers worldwide say they will still be spending on some things that count more — beauty and health-care products.
An international survey by market research firm Synovate showed spending on cosmetics and health care appears resilient in the face of the downturn, which has altered consumer attitudes worldwide.
It found 41% of people plan to spend the same amount on cosmetics as they did before the downturn began, while only 27% said they would cut down.
For health-care products, 55% said they would spend the same amount, while only 17% would spend less.
The survey questioned 11,500 people in more than a dozen countries including Brazil, Greece, Mexico, the Netherlands, Russia, Turkey, Britain and the US.
Despite grim economic forecasts, respondents from Denmark, Brazil and Malaysia were the most optimistic about the strength of their economies while those from the US and Britain were the most pessimistic, it said.
The US is already in recession, and data in December showed Britain edging closer, after a crisis in the US housing sector hammered global financial markets and spilled over into the broader economy.
Overall, consumers said they are spending less on luxuries.
However, 10% of Brazilians indicated they will spend more while 49% of Hong Kong residents and 72% of Danes said their spending on luxuries remains the same.
More consumers, led by Brazilians, Britons, French, Greeks and Americans, said they scrutinise prices more closely before filling the grocery cart.
But “for some reason” Asian markets — Malaysia, Taiwan and Hong Kong — had the most people who said they are checking prices less.
Buying on impulse has become a thing of the past for 82% of Americans, 76% of Britons, 78% of Belgians and 70% of the French.
However, 55% of Hong Kong people and 72% of Danes said they do the same amount of impulse buying.
Holidays and branded goods are the first to go when family budgets are cut, but choices varied across markets.
For Americans and Greeks, restaurant meals with the family and friends were the first items given up, while Romanians put off buying high-tech gadgets.
Serbians said they gave up leisure travel, but 81% of Danes said they had not cut spending on any of the items specified in the survey.
Twenty percent of respondents said they will spend less on bottled water, while a quarter of them said they will trim their budgets on alcoholic drinks.
For alcohol, 48% of French people and 46% of Britons said they will spend less.
Among smokers, 24% said they will spend the same on cigarettes, with respondents from Mexico, France and Turkey leading those who will spend less to light up.
— AFP
An international survey by market research firm Synovate showed spending on cosmetics and health care appears resilient in the face of the downturn, which has altered consumer attitudes worldwide.
It found 41% of people plan to spend the same amount on cosmetics as they did before the downturn began, while only 27% said they would cut down.
For health-care products, 55% said they would spend the same amount, while only 17% would spend less.
The survey questioned 11,500 people in more than a dozen countries including Brazil, Greece, Mexico, the Netherlands, Russia, Turkey, Britain and the US.
Despite grim economic forecasts, respondents from Denmark, Brazil and Malaysia were the most optimistic about the strength of their economies while those from the US and Britain were the most pessimistic, it said.
The US is already in recession, and data in December showed Britain edging closer, after a crisis in the US housing sector hammered global financial markets and spilled over into the broader economy.
Overall, consumers said they are spending less on luxuries.
However, 10% of Brazilians indicated they will spend more while 49% of Hong Kong residents and 72% of Danes said their spending on luxuries remains the same.
More consumers, led by Brazilians, Britons, French, Greeks and Americans, said they scrutinise prices more closely before filling the grocery cart.
But “for some reason” Asian markets — Malaysia, Taiwan and Hong Kong — had the most people who said they are checking prices less.
Buying on impulse has become a thing of the past for 82% of Americans, 76% of Britons, 78% of Belgians and 70% of the French.
However, 55% of Hong Kong people and 72% of Danes said they do the same amount of impulse buying.
Holidays and branded goods are the first to go when family budgets are cut, but choices varied across markets.
For Americans and Greeks, restaurant meals with the family and friends were the first items given up, while Romanians put off buying high-tech gadgets.
Serbians said they gave up leisure travel, but 81% of Danes said they had not cut spending on any of the items specified in the survey.
Twenty percent of respondents said they will spend less on bottled water, while a quarter of them said they will trim their budgets on alcoholic drinks.
For alcohol, 48% of French people and 46% of Britons said they will spend less.
Among smokers, 24% said they will spend the same on cigarettes, with respondents from Mexico, France and Turkey leading those who will spend less to light up.
— AFP
MOHD ADHA MOHD ZAIN (ADHA ZAIN)
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