“The global recession has affected the way consumers are shopping. More than ever they are looking for value and as a consequence, they are making further decisions and spending extra time shopping – with Asians leading the way. This was among the key findings in the Global Retail Index, a new study commissioned by
Microsoft Advertising and
Aegis Media, and undertaken independently by London-based Essential Research.
The study, arguably the most comprehensive retail research of its kind since the global recession, zeroed in on four key retail sectors – groceries, apparel, home electronics, and fast food. It polled 19,000 shoppers across 17 countries in the USA, Asia, Europe and Latin America.
Additionally, ethnographic studies were conducted in six markets representing these regions.
Most of the respondents (94 – 96%) across all four regions admitted that they were impacted by the recession. The study showed that this has consequently given rise to ‘value seeking’ shopping behavior, with consumers going to great lengths to find better value buys. Rather than taking a traditional approach when purchasing, post-recession value seekers are now looking for additional information from a variety of sources before they buy. And the main source for their research is the Internet.”
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“The boom in online video, social and ‘performance’ marketing contributed to the 10% increase in online advertising spend during the first half of 2010, which saw UK marketers invest £1,968.6 million, lifting the medium to a record market share of 24.3%.