During this volatile economic period, what is the state of global consumer spending? Do people feel better or worse than a few years ago?
Previously, we looked at:
- How Global Consumers Feel About Their Finances
- Global Consumer Insights
- How Affluent Americans Live
- How Global Wealth Is Allocated
The Evolution of Global Consumer Spending
Recently, Nielsen published a report on global consumer prosperity:
“Markets around the world have faced fluctuating economic conditions in recent years. With many economies experiencing varying degrees of growth or recession. Amid these unpredictable conditions, many experts expected an uptick in consumers’ financial situations and millions of consumers to join the middle class. Conversely, many commentators questioned whether economic progression was proportionate. As they pointed to growing wealth gaps in many markets. The pundit catchphrase ‘haves and have-nots’ points to a growing divide. With the rich getting richer and the poor getting poorer, despite country economic performance.”
“Asia-Pacific consumers feel the most optimistic about their financial situation. In fact, 70% report being better off today than five years ago. In contrast, only 37% of European consumers feel in a firmer financial position.”
“Globally, 58% of global consumers feel better off financially than they were five years ago. But a sizeable proportion of consumers feel that they are in survival mode, with sentiment differing considerably by region and country. Consumers’ perceptions of their personal financial situations play a role in influencing their purchasing behavior.”
“For more insights, download our Changing Consumer Prosperity report. The following infographic is also available for the Asia-Pacific, Europe, Latin America, Middle East & Africa, and North America regions.”
