Credit crunch fails to dampen Brits' holidays
- Added:
- Aug 12, 2008
Three quarters of consumers (74%) are refusing to let credit crunch reports dampen their holiday spirit – according to the latest Trust Index from e-commerce specialist Avail Intelligence.
57% of those surveyed said their holiday plans wouldn’t change because of the economic downturn. Nearly a quarter (17%) even stated they would increase their holiday spending this year.
The survey – the latest instalment of the Trust Index – found that very few consumers are actually cutting down on luxury spending. Only 17% on average indicated that they would spend less on items including holidays, books, CDs, home electronics and fashion.
However, more fundamental issues like interest rates and food prices continue to worry consumers, with 44% and 48% respectively expressing concern.
“There’s been so much speculation about consumer spending and the credit crunch – so it’s interesting to see that luxury items are still such a priority,” commented Rolf Elmer, CEO of Avail Intelligence. “However, more basic issues like rates and food prices – and more recently energy bills – have inevitably affected consumer confidence.”
The survey also asked what consumers were doing to maintain their lifestyles in a more restrictive economic climate:
Top five consumer thrift tips
1. Get on eBay
One man’s junk is another’s treasure, so put your unwanted goods up for auction online.
2. Recycle and FreeCycle
Check out www.freecycle.com and see what great stuff people are throwing away.
3. Credit crunch lunch
Lunch at work continues to drain resources. Make lunch at home and take advantage of special offers.
4. Shop around
Consign impulse buying to history and become a bargain hunter.
5. Keep a copper jar
Save up all your coppers and shrapnel – you’ll be surprised at what you save.
Source: www.avail.net