DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/697k7v/abc1_consumer) has announced the addition of the "ABC1 Consumer Market Report 2013" report to their offering.
This Key Note Market Assessment analyses the consumer habits and attitudes of ABC1 consumers in relation to food; their homes; clothes and personal care; and leisure and travel. ABC1 consumers are classified by their professions and, while the classification is not directly related to income, there is understood to be a correlation between a person's social grade and their income. This report addresses the current outlook for the ABC1 consumer and compares this with previous years, namely 2008 and 2010 when previous editions of this Assessment were published.
Exclusive consumer research was carried out on behalf of Key Note by NEMS Market Research in September 2012, in order to provide data relating to consumer opinions and attitudes towards a number of aspects of their lives, including their financial situation. The results indicate that a large proportion of consumers felt that their financial situation was worse than it was 2 years ago, with penetration substantially higher than in 2008 and 2010. Many consumers are feeling the strains of the recession more now than when the recession initially occurred.
In terms of consumer preferences for food in 2012, more consumers often purchased supermarkets' own-brand food products within economy ranges than seen in previous years, indicating that more ABC1 consumers are seeking value in their food purchases. This trend towards value' items was also evident among consumers with regard to clothes purchases, with more respondents buying clothes from supermarkets and discount retailers in 2012 than 2010. In terms of holidays, fewer ABC1 consumers now try to avoid highly commercialised tourist areas, indicating that price may play a more significant role in holiday destination choice than in previous years. Much of the data from Key Note's consumer research indicates that consumers are more concerned with the added-value of products than in previous years, as the effects of the recession are still felt.
With regard to the future, Key Note expects a recovery in the economic climate of the UK to be a major contributing factor to the return of consumer confidence among ABC1 consumers. Slow economic recovery is likely to continue to dampen consumer spending and will result in more consumers seeking the best value for money from their future purchases. Further factors such as rising taxes for high earners may also result in changing consumer dynamics among ABC1 consumers over the next few years.
Companies Mentioned:
- Harvey Nichols
- Marks and Spencer
- Sainsbury's
- Tesco
- Waitrose
- BandQ
- John Lewis
- Marks and Spencer
- Sainsbury's
- Anya Hindmarch
- Burberry
- Clinique
- Dior
- Gucci
- Harvey Nichols
- Hugo Boss
- Lancôme
- L'Oreal
- MAC
- Marks and Spencer
- Net-a-Porter
- Shopbop.com
- British Airways
- Hilton Hotels
- Virgin Atlantic
- LVMH Moët Hennessy - Louis Vuitton
- Compagnie Financière Richemont SA
For more information visit http://www.researchandmarkets.com/research/697k7v/abc1_consumer