The Q2 survey also found that 20% of people expect that they’ll continue to cut down on out-of-home expenses once economic conditions improve.
31% of respondents stated that they have cut down on alcohol or buy cheaper brands of alcohol but this three-month period figure is actually down five percentage points on the numbers who did so in the first three months of this year. Some 17% claim that they’ll continue cutting down or buing cheaper brands of alcohol once conditions improve.
This compares to 71% of respondents having switched to cheaper grocery brands and the 43% who intend to continue doing so should economic conditions improve.
The 71% figure is up three percentage points on the previous Jan-Mar quarter this year.
The biggest consumer concerns remain Job Security (down one percentage point on Q1) and Debt (up two percentage points on Q1 to 15%).
Interestingly enough, Increasing Utility Bills is down one percentage point to just 13% as a concern among consumers this quarter compared to last.
But those claiming ‘no spare cash’ increased to 28% (up two percentage points on the first quarter of the year) while those ‘putting it into savings’ fell three percentage points to 31%.