Kiwis plan to cut back on discretionary spending in 2022 amid economic uncertainty.
Toluna’s Global Consumer Barometer Study is a regular index that taps into a community panel of 36+ million members providing accurate and timely information on the world’s current perceptions. The latest research surveyed 530 respondents in New Zealand between 4-8 January 2022.
The key findings showed that Kiwis have become increasingly concerned about their finances as a result of the recent Omicron outbreak. Over the Christmas period, almost half (48 percent) of the Kiwis surveyed were concerned about being able to afford the cost of Christmas, with many not having been able to save as much as previous years. This year, spending confidence has gone down, with respondents planning to reduce discretionary spending in 2022 due to the ongoing financial insecurity brought about by the pandemic.
Almost half (46 percent) of New Zealanders are concerned about their financial security because of the COVID-19 pandemic, with over a third (38 percent) stating they’re now financially worse off than they were before the pandemic began. Only a third of respondents (32 percent) said they felt secure in their employment, with around the same number (33 percent) stating they didn’t feel confident spending money over the coming months.
To read the rest, find it in the Supermarket News magazine HERE.
This article was supplied by Toluna, New Zealand.