Consumer Village Provides a Quick Pulse on Consumer Spending
Findings Indicate that “Instant Gratification” Spending is Most Affected by Current Economy
AUBURN HILLS, MI – April 27, 2009 – Results from a survey conducted in Consumer Village—a proprietary online community managed by Gongos Research—point to a trend in consumer spending caused by current economic conditions. Between 55% and 65% of consumers who regularly spend money on restaurants, vacations, sporting events and concerts, or in-theatre movies have reduced spending in these areas. However, fewer than 40% have reduced spending on cable television, gym memberships and fitness activities, or organic and specialty foods.
According to Mitch Sanders, Ph.D., Analytics Director for Consumer Village, “This pattern shows that products and services that provide immediate gratification are most susceptible to the economy, while spending that results in enduring enjoyment or contributes to a healthy lifestyle remains strong.”
Open-ended answers provide further insight, showing that 60% of consumers have at least one area of discretionary spending that is immune to the economy. Expenditures that allow consumers to “stay connected” – like the Internet and television – along with spending on children, pets, and charities, are among the items most frequently identified as “must-haves.”
Of the 4,000 community members who were invited to participate in the survey, over 1,200 provided responses within 24 hours.
As a growing online community of over 10,000 members, Consumer Village provides companies with an efficient way to conduct both qualitative and quantitative research. Companies can engage in a range of research activities in the community, from posting a Flash Poll/Dialogue to conducting in-depth, longitudinal research in their own “Quick Start” community initiated on the platform.
Gongos Research established Consumer Village as a socially interactive research network to create enduring, two-way relationships with consumers. By creating an environment that fosters ongoing participation of community members, Consumer Village generates comprehensive insights that go well beyond traditional online survey methods.
To learn more about this study or about conducting research in Consumer Village, email iCommunities@gongos.com. For information on becoming a member of Consumer Village please visit Join Consumer Village.