Consumer Eye, News International's quarterly survey of over 3,000 readers provides an insight into consumer confidence, views on the economic outlook and current and future purchase intentions.
The first full study undertaken in March has revealed that consumer confidence has grown by 6 points since the benchmark survey undertaken in December 2008. The key reasons for the rise in confidence are the interest rate reductions, lowered concern over utility bills and value perceptions of grocery costs.
The research is aimed at providing News International and its customers with valuable insights that could help to develop advertiser’s communication approach to consumers. The size and frequency of Consumer Eye will provide one of the most comprehensive and up to date consumer surveys available to marketers.
Fifty eight per cent of consumers now think that the effects of the recession will continue the same rather than get worse although fears over savings, house value and general worries over the economy are holding back confidence.
Stuart McDonald, Head of Insight
With the concern over savings, twenty per cent of those surveyed said they will open an ISA/savings product (one in three of 55-64 year olds will do this). Thirty one per cent of 25-34 year olds plan to increase the amount of money they save. And to save money where they can, consumers are also seeking out best value deals with one in ten planning to change broadband supplier for example.
Meanwhile, the difficult economic times do not seem to have affected the nation’s love of holidays with 70 per cent of respondents planning to take a holiday this year.
Claire Myerscough, Business Intelligence Director News International said: “Consumer Eye gives us and our advertisers valuable insights into both the psyche and purchase intentions of the consumer. We believe the scale of the survey will provide great value when planning campaigns and the ability to identify trends within a wide range of consumer segments.”