Basic personal care products ranked third
Posted: Sun Jan 19, 2025 4:31 am
Breaking through the new budget Brands must consider the first three months of a recession or the significant changes in consumer spending that may occur as the cost of goods and services continues to rise. Sixty-four percent of consumers surveyed over the summer said they would reduce or continue to reduce their household budgets. Interestingly, this dropped to 57%, with 27% saying their budget would remain the same and only 15% saying it would increase.
Brands must consider items that are essential rcs data for people to maintain a certain lifestyle. While one set of surveys shouldn't be the sole basis for overhauling your entire marketing strategy, essentials should be the current focus, rather than pricier or luxury items. Prioritizing Necessities Consumers have held back on spending in recent years for a variety of reasons, including the pandemic, concerns about an economic recession and changes in quality of life.
Consumers surveyed during the summer and winter said basic necessities like groceries to eat came first, followed by rent, mortgage and housing bills. and healthcare and pharmaceuticals ranked last. While entertainment, shopping and other non-essential goods and services are not completely excluded, people are investing more in digital or online entertainment rather than going out. However, 9% of respondents still go to bars and restaurants, and 16% invest in clothing and apparel.
Brands must consider items that are essential rcs data for people to maintain a certain lifestyle. While one set of surveys shouldn't be the sole basis for overhauling your entire marketing strategy, essentials should be the current focus, rather than pricier or luxury items. Prioritizing Necessities Consumers have held back on spending in recent years for a variety of reasons, including the pandemic, concerns about an economic recession and changes in quality of life.
Consumers surveyed during the summer and winter said basic necessities like groceries to eat came first, followed by rent, mortgage and housing bills. and healthcare and pharmaceuticals ranked last. While entertainment, shopping and other non-essential goods and services are not completely excluded, people are investing more in digital or online entertainment rather than going out. However, 9% of respondents still go to bars and restaurants, and 16% invest in clothing and apparel.