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Romir / News / Figures and Facts / |
Figures and FactsOptimism on the rise, caution remainsDespite the overall rise of optimism, consumers are still careful with their expenses More than a half (52%) of Russians made cutbacks on entertainment, about the same (48%) reduced their expenses on major household purchases and 46% narrowed down their budgets on holiday and travel. And yet, the results of the international survey place Russia amongst the five countries which citizens had managed without appreciable cutbacks within the past three months. And even though consumers in our country and in the world are still careful with their expenses, they cut back considerably less than three months ago. Romir continues publishing the results of the 4th Wave of the international study “Worldwide Barometer of the Financial Crisis”/“Consumer Confidence Index”.* The project is aimed at the evaluation of the way respondents throughout different countries perceive the economic crisis and to analyze consumers’ behavior in conditions of financial uncertainty. The study, conducted mid-September to late October 2009, gathered the opinions of 23,659 respondents in 24 countries. Romir carried out the Russian part of the survey, having interviewed 1,000 citizens of the RF. The researchers note, that while the fourth wave of this survey reveals an overall boost in optimism, citizens’ spending behaviour continues to show cautiousness throughout the surveyed countries. However, comparing the results of the third and the fourth waves of the survey (July and October 2009), one can clearly see that consumers now nickel-and-dime less. In fact, the share of respondents claiming they had to cut back within the past three months has decreased practically for all the categories specified in different countries. Respondents who made cutbacks, % (all countries):  Source: Romir, WIN, “Worldwide Barometer of the Financial Crisis”, September-October’09 Just as three months ago, clothing/footwear/accessories remain the category the most affected by cutbacks, with half (50%) of the survey participants having reduced their expenditures on related articles. IT-services (digital and cable TV, home internet connection, etc.) appeared the least affected. The comparison of different world’s regions shows that Latin America had made the most cutbacks (47%) while Asia-Pacific the least (27%) within the past three months. The countries where citizens had to cut back the most are Mexico (59%), Iceland (47%), the United States (46%), Argentina (46%) and Romania (45%). People in Switzerland (20%) and Austria (19%), on the contrary, were the least often to economize on the goods and services in question. Interestingly, though Americans are rather positive throughout the survey, their spending behaviours are still very careful. The average proportion of the USA citizens who cut back is 12% higher than the global average (46% vs. 34%), which makes them third on the list of people reducing their expenses. Respondents who made cutbacks, % By country:  Source: Romir, WIN, “Worldwide Barometer of the Financial Crisis”, September-October’09 Concerning the degree of cutbacks, Russia takes 19th position out of the 23* participating countries (Korea did not participate in this part of the survey). Comparing the results of the fourth wave with the similar indicators, obtained during the third one, we can conclude that the share of Russians who made cutbacks fell practically for all the categories specified except healthcare, where the figure remained the same. Respondents who had made cutbacks, % (Russia):  Source: Romir, WIN, “Worldwide Barometer of the Financial Crisis”, September-October’09 Despite the fact that the number of Russians who save on entertainment (theatre, cinema, restaurants, etc.) saw a 3-point decline within the past three months, this category became the leader in terms of cutbacks (52% of citizens economized on it). Almost a half (48%) of our country-fellows made cutbacks on household purchases, which is 11% less against July. Holiday and travel (46%) appeared third in the list in terms of cutbacks made by the RF citizens. The share of Russians who have to save on their own clothing, footwear and accessories, demonstrated the most considerable deterioration. Read our next publications to find out whether Russians appeared more psychologically stable as compared to the citizens of other countries amid the crisis, as well as whether their attitude towards the real-estate market and the stability of the banks and the stock-market has changed in any way. *The Worldwide Barometer of the Financial Crisis» (WIN Crisis Index) – an international project aimed at evaluating the respondents’ perception of the financial crisis in their countries. The WIN Crisis Index is conducted every 3 months by the members of the international network, which brings together the greatest independent firms of market research throughout the world. The third wave, carried out September to October recorded the opinions of 23 659 respondents in 24 countries. Each sample is representative of its country’s grown-up population. Romir research holding conducted the survey as a part of the All-Russia online Omnibus, having interviewed 1000 RF citizens. **WIN (Worldwide Independent Network of Market Research) – WIN brings together the greatest independent firms of Market Research throughout the world. Beyond enabling international research, WIN allows each Member to conduct the most appropriate research in any given region or on a global scale. |