Retailers, consumers and prices
Check Out Line: Would you like some wine with that weak economy?
Check out the latest poll on affluent consumers’ spending habits.
Affluent consumers around the world may be worried about the economy, but they are still spending on items they value most: food, wine and dining out, according to a study released by HSBC Global Pulse.
Seventy-two percent of those polled said the amount of wine they drank had not changed in the past year, while 67 percent said their spending on wine was unchanged, HSBC said.
Meanwhile, 73 percent still dine out nearly once a week and 39 percent still eat at restaurants at least three times a week, according to the study.
Of those polled, 80 percent have household income above $100,000 and 19 percent are above $250,000, according to HSBC. Fifty-seven percent are college grads and 43 percent have post-graduate degrees.
That’s not to say these consumers are unaffected by the weak economy as the most important criteria (95 percent) in wine purchases is “value/price,” according to HSBC.
Fresh food and well-known brands also scored well. Seventy-nine percent said they are willing to spend more for locally grown products, 62 percent would spend more for organic foods and 82 percent would spend more for well-known brands, HSBC said.
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