Consumers Cut Spending on Luxuries, Sell Items
Flemington, NJ, October 27, 2009 – Results from a new media study among 222 viewers of a news clip on frugal living revealed that in the past year, the key areas that consumers have cut spending in are dining out (81%) and personal luxuries (79%).
Nearly half of consumers have sold personal items for extra income.
The study was conducted by HCD Research using its MediaCurves.com® website on October 26 to obtain viewers’ perceptions of a news clip which featured consumers’ spending behaviors and frugal living in the past year. To view agreement curves and detailed results go to: http://www.mediacurves.com.
Among the other top areas that consumers reported having cut back on included buying clothing/accessories (69%) and vacations/travel (62%). In addition, 47% reported that they have sold personal items to earn extra money, and 22% indicated that they have worked more overtime or picked up extra shifts at work.
Among the findings:
In the past year, have you cut back on any expenses in your life (purchased less of, or a discounted version of a product or service)? Select all that apply.
(Click the following link to view responses)
While viewing the video, participants indicated their levels of agreement by moving their mouse from left to right on a continuum. The responses were recorded in quarter-second intervals and reported in the form of curves. The participants were also asked to respond to post-viewing questions.