Recession study - June 2013
Click here to load reader
-
Upload
focus-bari -
Category
Economy & Finance
-
view
68 -
download
0
description
Transcript of Recession study - June 2013
Recession StudyJUNE 2013
Recession Study: Key findings
• According to the nationwide survey of Focus Bari the monthly income of Greek households has been reduced 30% or more (compared to 2009), while…
• for a big share of the public (≈30%) the reduction of the monthly family income is more than 50% compared to 2009
• Same time, one out of four (26.7%) stated that his family has suffered over the last four years by job loss, while one in fifteen families was forced to change residence (5.7%)due to economic conditions.
• Reducing spending on households in order to cope regards both on daily expenses as well as in higher costs. The areas in which the biggest spending cuts were made ( areas that the public says that because of the crisis has sharply reduced or cut completely the consumption of products / services) are clothing and footwear (70.2%), home purchases and home maintenance costs (70.4%), entertainment (70.2%), daily expenses (69.5%), travel and holidays (65.9%) and travel expenses (61.6%). Food products have been limited by the 25.4% of the public.
• Additionally, consumers now focus their attention on the “necessary’’, after a very careful "review of their
needs." "Search for alternatives" before buying a product remains a key factor in consumer behavior, and (compared to 3 years ago) many more state turning to private labels and exploitation of discounts and offers on branded products.
• Due to the crisis, the capability of Greek consumers to save money declines steadily since 2010. Today, only one out of seven (14.1%) of our fellow citizens saves money.
• The optimistic finding is that the public that states being "too nervous" because of the crisis and its consequences is recorded gradually decreasing than a year ago. It is still a large percentage of the public (40%), which concerns mainly older ages.
29.8
33.7
21.2
7.3
0.6 3.3 2.2 1.9
Over 50% In percentage 30%-49% In percentage 20%-29% In percentage 10%-19%
Less than % D.K. Not reduced No answer
Has the monthly household income been reduced, compared to 2009 ?
(%)
FOCUS BARI: MARCH - JUNE 2013, Greeks 18-70 y.o., Total Greece
REDUSE OF INCOME IN THE HOUSEHOLD
63,5% % states that the monthly
family income has beenreduced more than 30% compared to 2009
Compared to 2009 has there been in your household any of the following consequences due to the economic crisis?
26.7
5.7
1.53.3
Job loss Change of residence Property sale Sale of other property
CRISIS CONSEQUENSES
(%)
FOCUS BARI: MARCH - JUNE 2013, Greeks 18-70 y.o., Total Greece
3.4
6.1
6.9
14.8
14.6
15.4
25.4
58.2
63.4
65.8
55.6
55.6
50.5
55.6
30.0
25.4
23.6
23.2
23.2
22.6
We have cut them off COMPLETELY
We have reduce them a lot
We have reduce them a little
To what extent you have limited your household expenses for…
(%)
LIMITATION OF EXPENSES
Food products
Travel expenses
Everyday expenses
Clothing / footwear
Home maintenance expenses/New purchases
Entertainment
Travel/Holidays
FOCUS BARI: MARCH - JUNE 2013, Greeks 18-70 y.o., Total Greece
How do you consume today comparing to the pre-crisis time?
41.5
5.2
40.1
22 22.3
48.4
21.8
46.6
29.1
41.6
7.2
57.1
21.3
31.5
59.7
24.2
69.6
30.2
EXAMINATION OF
ALTERNATIVES
ONLINE SHOPPING
DISCOUNTS / OFFERS
DISCOUNTS SHOPS
PRIVATE LABELS
NEEDS REVIEW DISCOUNT COUPONS
ONLY THE NECESSARY
CHEAP BRANDS
2010 2013
(%)
CONSUMER ATTIDUDE
FOCUS BARI: Greeks 18-70 y.o., Total Greece
30.1
20.2
15.214.1
2010 2011 2012 2013
SAVINGS
%
Do you save money due to the crisis?
FOCUS BARI: Greeks 18-70 y.o., Total Greece
29.0
38.1
45.141.3
40.0
SEP.2010 SEP.2011 JUNE.2012 MAR.2013 JUNE.2013
VERY NERVOYS
STRESSDUE TO THE ECONOMIC CRISIS
(%)
How would you describe your attitude towards life in the light of the current economic crisis;
FOCUS BARI: Greeks 18-70 y.o., Total Greece
40.037.0
42.9
17.0
39.4 39.643.0
53.3
TOTAL MEN WOMEN 18-24 25-34 35-44 45-54 55-70
(%)
STRESSDUE TO THE ECONOMIC CRISIS
FOCUS BARI: MARCH - JUNE 2013, Greeks 18-70 y.o., Total Greece
SOURCE: FOCUS BARI
The survey records how the Greek consumers face economic crisis and
its impact on their daily life
ANNUAL SAMPLE: 11.000 respondents Total Greece
METHODOLOGY: Computer Assisted Personal Interviews
SURVEY POPULATION: Ages 18-70, permanent residents of Attica prefecture, Salonica
prefecture, Rest of mainland Greece and Crete. (The capital and urban areas of 10.000+ residents of each prefecture. The rest of the urban and rural areas
located within a 25 km range from the capital or urban areas of 10.000+ residents of each prefecture. The Ionian
and Aegean islands as well as the islands that belong to prefecture of mainland Greece are not covered.In the
Attica prefecture, we cover the municipalities of Salamina& Egina)
TECHNICAL SPECIFICATIONS
The survey is conducted on a continuous /daily basis since 2008