Home > 시장보고서 > 일반소비재 > 소비자 > The Global Economic Crisis: The Impact On Consumer Attitudes & Behaviors In Italy

전화 문의

시장보고서

The Global Economic Crisis: The Impact On Consumer Attitudes & Behaviors In Italy

리서치사	Datamonitor
발행일	2009년 06월	상품코드	91089
페이지 정보	85 pages
가격	US $ 1,495 ￦ 1,781,200 PDF by E-mail (Single User License) US $ 3,738 ￦ 4,453,800 PDF by E-mail (Global Site License)

한글목차
영문목차
관련자료

영문목차

Abstract

Introduction

81% of Italian consumers believe that they are currently living in a recession. This is indicative of an intensifying ' recessionary mindset' influencing consumer behavior. Symptomatic of falling consumer confidence is the fact that more than one-in-three Italian consumers experienced a worsening financial situation, falling job security and falling confidence in the housing market in 2008-09.

Scope of this research

Detailed analysis documenting Italian consumers' ' recessionary mindset' and how this influences perceptions about current and future prospects
Insights highlighting how the economic downturn has affected perceived quality of life, emotional wellbeing and financial security in Italy
In-depth analysis of Italians' changing price sensitivity, value consciousness and attitudes towards private label across four major FMCG sectors
Countries and categories covered: Italy; food and non-alcoholic beverages, alcoholic beverages, personal care and household care

Research and analysis highlights

59% of Italian consumers feel that their lifestyle has been impacted by the recession. Suddenly, they have been forced to re-evaluate their spending, including where they do their grocery shopping as well as their in-store choices.

Italians consider private label products to be credible and many are now likely to consider private label products to be on a par, if not better than market leading brands across sectors. However, the limited scale of the private label market there means that these receptive consumers are being underserved across the CPG spectrum.

For over two-thirds of Italian shoppers, lower prices have a high amount of influence over where people do their shopping. Nevertheless, the quality of products sold has more influence over their (changeable) grocery shopping destinations. This is symptomatic of the intensifying value-consciousness across FMCG product sectors.

Key reasons to purchase this research

Gain a detailed understanding of changing consumer attitudes and behaviors amid the downturn in order to determine appropriate recessionary strategies
Obtain country and sector specific insight about pertinent recessionary themes such as private label and consumers' value consciousness
Assist consumer segmentation and targeting efforts by accessing data from two waves of primary research conducted in August 2008 and April 2009

OVERVIEW

Catalyst
Summary

THE FUTURE DECODED

INTRODUCTION: Understanding how ‘recessionary mindsets' influence Italians' attitudes towards and actual consumption is vital
- The ‘recessionary mindset' of Italian consumers is reflected by the widespread belief that they are in a recession
- The economic downturn has impacted on the lifestyles of a growing majority of Italian consumers
- Key takeouts and implications: a ‘recessionary mindset' has been increasingly borne out with widespread recessionary impacts on Italians' lifestyles

TREND: Stagnating consumer confidence levels are mirrored by a widely-held negative outlook among Italian consumers
- Italians are highly negative about the country' s direction which is impacting satisfaction with their quality of life
- Key takeouts and implications: Italians' views towards the direction of the country have been strongly negative, a view also mirrored in their feelings about quality of life

TREND: Italian consumers' confidence in their financial security is weak and they are being more careful with money as a consequence
- Satisfaction with one' s financial situation is low among Italian consumers
- Perceptions about the economy, job security, financial status and the housing market in Italy have all worsened and there is only limited optimism for the six months ahead
- Italians are managing their finances more closely with many struggling to pay the bills
- Majorities of Italians are making efforts to become less reliant on credit and to save more
- Key takeouts and implications: Italians are very pessimistic about their financial situation and there is little optimism of any improvement coming as 2009 progresses

INSIGHT: The global economic crisis has negatively impacted on the emotional wellbeing of Italians, driving stress levels up and personal happiness down
- Stress levels have all been negatively impacted during the financial downturn
- Work-life balance has also worsened in combination with the downturn
- The happiness levels of Italians have declined in line with the global economic crisis and are below the international average
- Key takeouts and implications: Elevation of tiredness and stress levels due to the recession imply opportunities for marketers who can help bring relaxation and escapism

INSIGHT: Italian consumers have become increasingly price and value conscious following the global economic downturn
- Italian consumers are becoming more value conscious and are therefore looking to save money when buying groceries
- Price and value consciousness heavily influences where Italian consumers do their grocery shopping and how they shop, but quality is still a leading consideration
- Key takeouts and implications: the value consciousness of Italians has intensified affecting where they grocery shop but the CPG industry must not confuse ‘value-for-money' with ‘cheap'

INSIGHT: Brand loyalties are also weakening as Italians revise their brand choices and increasingly look to private label
- Many Italian consumers are finding it necessary to give up some of their favorite brands and make more ‘considered' , value-driven purchase choices
- Private labels are becoming more attractive to shoppers in the downturn although penetration is more limited in Italy
- Key takeouts and implications: the general value consciousness of Italians, combined with their more measured consumption behaviors, could create an optimal platform for private label growth if retailers can realize greater regional/national scale

INSIGHT: Italian consumers are embracing money saving tactics when it comes to food and non-alcoholic beverage purchases and preparation
- Italian consumers are adopting a variety of responses to cut back on food and beverage expenditures
- Many Italians view private label products as being of comparable quality to main branded equivalents although this view varies by category
- Key takeouts and implications: Italians' cut-backs on eating out and a desire to scratch cook at home offers growing opportunities for grocery retailers, private label and challenges foodservice

INSIGHT: The significant majority of Italians' personal care regimes and related product choices have been ‘recession resistant'
- Two-thirds of Italian consumers are committed to looking their best in day-to-day life
- Price and value conscious personal care/beauty shoppers in Italy remain quality focused and have not made significant changes to their personal care consumption in order to save money
- Italians are showing growing interest in private label personal care products
- Key takeouts and implications: Italians' health and beauty regimes are well-established and largely recession resistant

INSIGHT: Italians' alcohol consumption patterns and preferences have not changed significantly during the downturn
- Italian drinkers are careful about how much they spend on alcohol, but do not perceive that they have been making significant reductions in the amount they consume
- Italians consumers show marginally more value consciousness in their at-home alcoholic beverage choices than their out-of-home choices
- Limited private label alcohol penetration in Italy has led to uncertainty about comparative quality against branded equivalents
- Italian drinkers show lesser concern for brand image but habit, price and brand name are more importantThere is a status that comes from buying what is perceived to be the ‘right brand' . Traditionally, an attractive aspect of premium (alcoholic beverage) products has been the chance for a consumer to show their peers the extent of their affluence and good taste. Image conscious consumers that typically have a desire to link themselves to brands often seek conspicuous, status-enhancing products in order to create an identity and image around themselves. Because alcohol is so often consumed in a more conspicuous setting marketing (especially for upscale brands) often emphasizes the status credentials of brands.
- Key takeouts and implications: alcoholic drinks have a high degree of ‘recession resistance' among Italians

INSIGHT: Italians' household care buying preferences are heavily shaped by price consciousness irrespective of an economic downturn
- Price-led value is still the most influential factor for Italians' household and laundry care purchases but preferences do reflect other important influences
- The private label household care market in Italy is very limited but potentially lucrative given consumers' concern for value
- Key takeouts and implications: the majority of Italians associate hygiene and cleanliness with wellbeing, making them somewhat quality conscious

ACTION POINTS

ACTION: Adopt a relentless approach to delivering and communicating better value-for-money than the competition
- Actively demonstrate value-for-money by re-appraising marketing initiatives, including slogans
- Ensure that the value gains for shoppers are instantaneous
- Focus on quality to maintain differentiation and prove to consumers that quality really matters
- Evaluate and adapt cost structures so that it is feasible to offer value-for-money solutions

APPENDIX

Methodology
Further reading and references
Ask the analyst
Datamonitor consulting
Disclaimer

TABLES

Table: Consumer survey: level of satisfaction with “the general direction of how things are going” and “quality of life”, in Italy (compared with the global average), 2009
Table: Consumer survey: satisfaction with current financial situation and importance attached to wealth/income and having finances in good order, in Italy (compared with the global average), 2009
Table: Consumer survey: perceptions of changes in broader and personal economic conditions in the six month previous, and how each might change in the proceeding six months, in Italy, 2009
Table: Consumer survey: propensity to feel tense and the extent to which perceived levels of stress have changed in the last six months, and are expected to change in the next six months, in Italy, 2008 - 09
Table: Consumer survey: propensity to feel very tired and the extent to which perceived work-life balance has changed in the last six months and are expected to change in the next six months, in Italy
Table: Consumer survey: happiness levels and the extent to which perceived happiness has changed in the last six months and are expected to change in the next six months, in Italy, 2008-09
Table: Consumer survey: changing value-consciousness and desire to save money when buying groceries among Italian shoppers, 2009
Table: Consumer survey: changing efforts being made to use coupons, change grocery store choice to save money, embrace more disciplined shopping, and gather and utilize store price information, among Italian shoppers, April 2008 - April 2009
Table: Consumer survey: the relative cost/value and quality consciousness of Italians and global consumers overall when purchasing food and beverage products in 2008
Table: Consumer survey: the extent to which Italian consumers are making effort to save money by adopting various food and drinks consumption and preparation approaches, 2008 - 09
Table: Consumer survey: perception about the relative superiority or inferiority of private labels versus well known or market leading famous brands in food, soft drinks and hot drinks, in Italy, 2009
Table: Private label food penetration and spend ($ millions) in Italy, 2002 - 2012
Table: Private label non-alcoholic beverage penetration and spend ($ millions) in Italy, 2002 - 2012
Table: Consumer survey: the importance attached to looking one' s best in day-to-day life, the pressure to look good, and satisfaction with physical attractiveness/appearance, among Italian consumers, 2008 and 2009
Table: Consumer survey: the extent to which consumers are making an effort to save money by using spas or salons less often, in Italy, 2008 - 09
Table: Consumer survey: attempts made by Italians to change their personal care/beauty habits in order to save money, by product category, 2008 - 09
Table: Private label personal care penetration and spend ($ millions) in Italy, 2002 - 2012
Table: Consumer survey: perception about private labels versus well known or market leading famous brands for grooming/beauty products in Spain, 2009
Table: Consumer survey: attentiveness towards the amount of money spent on alcohol and the degree to which alcoholic beverage consumers in Italy have cut down on the overall amount of alcohol bought/consumed in 2008 - 09
Table: Total private label alcoholic beverage penetration and spend ($ millions) in Italy, 2002 - 2012
Table: Consumer survey: the changing degree to which household and laundry care consumers in Italy made product choices with value or cost in mind, 2008
Table: Consumer survey: Italian attitudes towards doing housework, 2008
Table: Private label household care penetration and spend ($m) in Italy, 2002 - 2012
Table: Consumer survey: perception about the relative superiority or inferiority of private labels versus well known or market-leading famous brands for household cleaning/laundry products, and how often such products are purchased to save money, in Italy, 2009

FIGURES

Figure: Datamonitor' s Recession and Recovery portal will allow industry players to continually identify emerging opportunities and track what is happening in the Italian economy as it develops
Figure: More than four-fifths of Italian consumers believe their country to be in recession, with over a third strongly agreeing
Figure: Italian consumers are increasingly seeing their lifestyles change due to the recession
Figure: From a personal perspective, European and US individuals generally looked at 2008 negatively
Figure: Italian consumers are highly skeptical about the direction their country is taking and are well below the global average for satisfaction with their quality of life
Figure: Nearly half of Italians are dissatisfied with their current financial situation
Figure: Eurobarometer reveals that Italians see the crisis as having more serious consequences on the macro-economic level than on their personal situation
Figure: Italian consumers are more negative about the economy at large than about their own financial situation
Figure: Only a quarter of Italians expect economic conditions to improve in the next six months
Figure: Italian consumers are managing their finances more closely while a third of individuals report difficulties in paying all the bills
Figure: Italians are becoming more averse to sustaining their lifestyles through use of credit but have not matched that with added commitment to saving money
Figure: The GEC has increased tension and stress levels for the majority of Italians in the last six months
Figure: Italians exhibit high but below average levels of fatigue, in the period October 2008 to April 2009
Figure: Italians' levels of happiness are below the international average, influenced by the impact of the global economic crisis on their lives
Figure: The vast majority of Italian consumers now wonder if they are getting value-for-money due to the downturn
Figure: Italian consumers' decisions over where they purchase their groceries are more influenced by product quality than by price or habit
Figure: Price and value consciousness is influencing where Italian consumers do their grocery shopping and how they shop
Figure: As the downturn has intensified, so too has the extent to which Italian consumers have been forced to sacrifice some of their favorite brands
Figure: Private label is an increasingly influential draw in where consumers shop, particularly in Italy
Figure: More than half of Italian consumers are only occasional private label buyers, offering a fertile environment for building market penetration
Figure: The private label market is impacted by a broad range of drivers and inhibitors
Figure: The majority of Italians are basing food/beverage purchases more on value or cost, but there is little sign of a desire to compromise on quality
Figure: The attributes deemed most influential in what food and beverages Italians buy also highlight the price consciousness shaping the choices they make
Figure: Italian consumers are adopting various responses to cut back on food and beverage expenditures
Figure: There has been a marked increase in the actual self-reported propensity for Italian consumers to cook an evening meal at home from scratch in 2008 - 09
Figure: There has been little change in the propensity for Italians to have a takeaway meal at home in 2008 - 09
Figure: Italians show divided opinions about how famous branded food products, soft drinks and hot drinks compare to private label equivalents
Figure: Italian consumers are highly appearance conscious, making them less willing to trade-down when making personal care choices
Figure: Italian personal care choices showed little change on the basis of value or quality in the six months to August 2008
Figure: Personal care/beauty shoppers in Italy and elsewhere are highly price conscious
Figure: Nearly half of Italian consumers consider private label beauty products to be good alternatives to well known or market leading brands
Figure: Italian consumers are careful about how much they spend on alcohol, but do not perceive that they have been making significant cuts in their consumption
Figure: Value consciousness among Italian drinkers has had marginally more impact on at-home alcoholic drinks' consumption in 2008 - 09
Figure: Italians have shown a greater tendency to drink cheaper brands at home than on-trade
Figure: Nearly half of Italian consumers consider promotional offers to be highly influential in their alcoholic beverage choices
Figure: Only 20% of Italian drinkers believe that private label alcoholic drinks are good alternatives to market leading or famous brands
Figure: Italians largely see private label alcohol as inferior to its branded equivalent, especially wine
Figure: Price consciousness and brand image both play a significant role in influencing Italians' alcoholic drinks choices
Figure: Price-led value is still the most influential factor for Italians' household and laundry care purchases
Figure: In 2008, Italian household and laundry care choices were made with greater consideration for cost/value but consumers showed an ongoing desire for efficacy-led quality
Figure: Italians highly value cleanliness, but dislike household tasks and seek to minimize the amount of time they spend on such tasks
Figure: 70% of Italian consumers are frequent buyers of cleaning or laundry products on the basis of value-for-money
Figure: Just over one-fifth of Italian consumers regularly purchases private label household care products to save money
Figure: The majority of Italian consumers believe private label household and laundry care products to be identical to branded equivalents
Figure: Manufacturers and retailers looking to deliver value-for-money must in the provision of factors associated with the PPI, but while also offering consumers lower than expected prices