31 Dec

2010 Consumer Spending Trends

We are seeing some signs that the economic recession is lifting. Does that mean that people are going to rush out and start spending their money freely again? Of course not. There may be an increase in some of the types of items that people will buy in 2010 but for the most part we’re all going to stick to the trend of living frugally. In fact, according to a recent survey, some consumers plan to continue cutting back even more on certain areas of their consumer spending.

The survey is an America survey conducted by AlixPartners which reveals insight into the planned spending of the average American consumer. However the results of the survey are applicable to global consumerism in first world countries where all people are still spending money and yet trying to do so frugally. Some of the trends that are predicted by this survey include:

• Women will spend less on cosmetics. Nearly nine percent of women will be cutting back on consumer spending on cosmetics products. Most won’t likely just stop buying cosmetics but instead will be making sure to get better deals on what they buy and to use it frugally so it lasts longer.
• More than three quarters of grocery shoppers will cut back on spending. People really want to save money on their groceries these days. Over one half of grocery buyers will look for sales. Over one third of people will do that by buying store brands or generic brands. Don’t forget to use promotional codes to save money on groceries too!
• Pre-packaged foods are out. Approximately eight percent of consumers plan to spend less money on prepared or pre-packaged foods. This means that we’ll not only be spending less on groceries but also that we’ll be eating better!
• Value shopping will transform into value hunting. 2009 was a year to take advantage of all of the deals that were easy to access. In 2010 more consumers will start actually seeking out the best coupon codes and deals to save even more money on their purchases.

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