Tuesday, May 24, 2011

People are more mindful consumers now: Report

In an Euro RSCG report called ‘The New Consumers’, some interesting takeaways were that the economic downturn in the West, has made people more mindful consumers. They are “savvier, more empowered, and more demanding than of old, and they have a veritable laundry list of things they take into consideration when shopping. These days, they are paying attention to everything from the economic and social impacts of the products they buy to their safety, design, and provenance. They are more risk aware, so they feel the need to be more vigilant, but they are also more cognizant of their capacity to influence the world—for good or ill—with their consumption choices.”

Here are some statistics from the report:
-72% are shopping more carefully and mindfully than they used to.
-69% claim to be smarter shoppers than they were a few years ago, while 63%
say they are more demanding.
-54% are paying more attention to the environmental and/or social impact of the
products they buy.
-62% do lots of consumer research online.
-51% are more interested today in how and where products are made.
-57% say it makes them feel good to support local producers, artisans, and manufacturers,and 45% say it’s important to them to buy locally produced goods.
-43% pay more attention to the color, feel, and overall design of products than
they used to.
-64% say making environmentally friendly choices makes them feel good (versus
only 30% who say the same about buying luxury items).
-54% are making an effort to buy fewer disposable goods, and 72% feel good
about reducing the amount of waste they create.
-39% have started or thought about starting a home vegetable or fruit garden—
a sign not only of their longing to reconnect with nature, but also of their desire
for self-sufficiency and competence.
-67% believe most people would be better off if they lived more simply.
-46% wish their homes were less cluttered, and 50% have thrown out or thought
about throwing out lots of stuff to declutter their lives and homes in recent years.

There are lessons to be learnt here because we are fast moving into hyperconsumerism mode in India as well. So it is a good idea to not pick up other people's bad habits!

For details click here: http://www.thenewconsumer.com/wp-content/uploads/2010/11/Prosumer_Report-_The_New_Consumer_lores.pdf

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