Recession fails to dampen spirits as 70% of us enjoying life as much as ever

DESPITE the recession, seven out of 10 people claim they are enjoying their lives as much as ever.

Research also suggests that people are placing a greater value on accumulating memories to treasure than acquiring possessions.

While “bad” was the word most frequently used by consumers to describe Ireland, the National Consumer Agency research did show that “good” and “happy” were the most popular words being used by consumers to describe themselves.

Half of the respondents did say, however, that they are not anymore relaxed about spending than they were six months ago.

Amarach Research, who conducted the study for the NCA, examined how consumers have both coped with and responded to the impacts of the recession. It found that just over two-thirds of those surveyed have put off big purchases until the economic situation improves.

There were some positive aspects too, with almost three-quarters saying they have learned to better manage their finances and planned to continue doing so in the future.

And consumers whose income has dropped in the past year were becoming more thrifty.

Seven out of 10 said the recession had made them think carefully about what and when they spend money.

Just over two-thirds if the 1,000 people interviewed said they were buying less, and half claimed they were budgeting for every cent.

The study highlights that consumers are researching and carefully planning their purchases, spreading their shopping across outlets and taking time to understand and compare product features and benefits.

It also reveals that 62% of consumers have less money to live on. And, while 31% said their expenditure had decreased, 43% said it stayed the same.

More than a third of consumers are spending more time bargain hunting for their grocery shopping and three out of 10 are spreading their shopping across a number of shops.

Almost four in 10 are less likely to eat takeaway food and 44% are more likely to buy goods on special offer. Almost a third are preparing homemade food from scratch.

Chief executive of the National Consumer Agency Ann Fitzgerald said the research revealed consumers were making positive changes to their shopping patterns and behaviour as a result of the recession, so there was some good to be found in these difficult circumstances.