Global Consumer Trends: Staying Ahead of the Downturn

According to a new study from Dynata, consumers around the world are tightening their belts as the global economy shows signs of teetering toward a recession. “Global Consumer Trends: Staying Ahead of the Downturn,” draws on responses from 11,103 consumers across 11 countries — the United States, Canada, United Kingdom, France, Germany, Italy, Spain, the Netherlands, China, Japan, and Australia — from Aug. 1-8, 2022.

Participants were selected across all Dynata’s online research panel assets, and the samples quota-controlled to reflect the population on age, gender, and region. Here are four of the report’s major findings. Download the report here.

1. Consumer perception matters Nearly half of consumers globally (49%) “strongly” or “very much” believe we are entering a recession 56% say their country’s leaders aren’t doing enough to combat inflation 2. Many struggle to make ends meet 53% globally are struggling at least slightly to afford basic needs — especially energy and utilities, followed by food, basic clothing, and housing 65% of Britons have difficulty paying for energy and utilities 3.

People are cutting consumption and buying secondhand products 67% have taken action to reduce spending. Top items to cut include leisure travel (61%), in-person entertainment (61%), restaurants (59%), and fashion (clothing beyond basic wardrobe (59%) 27% of consumers are buying secondhand products 4. When it’s worth paying more 1 in 5 “almost always” or “often” pay more for a brand, product, or service that represents their values; higher among Gen Z and Millennials 8 in 10 say they are likely to continue even if it costs more *Dynata is a first-party data firm serving more than 6,000 market research, media and advertising agencies, publishers, consulting and investment firms, and corporate customers in North America, South America, Europe and Asia-Pacific.