The State of the Global Economy

The State of the Global Economy 2012 The World Economy has shifted. People look at saving, spending, and even their jobs differently. Along with the economic factors, technology is changing. People are engaging and interacting across new digital and social platforms that are changing the way brands and consumers communicate. It is the challenge of brands to understand not only the global economic factors, but the changing ways to reach consumers. For Reference: (200 is Excellent |100 is Average |0 is Horrible) Global Consumer Confi Most Confident The countries most confident in their current economy Saudi Arabia 118.5 Indonesia 118 Philippines 117.7 China 110.4 Brazil 110.3 84.07 The Global Consumer Confidence Average Least Confident The countries least confident in their current economy Greece 36.5 Portugal 38.8 Croatia 44.5 Italy 45 South Korea 48.8 Future Job Market The Global economic downturn has hit financially struggling countries the hardest. While countries with a large working What countries are the most/least confident in the future job market class have thrived due to outsourcing and industry. World Average 57% 38% | | 4% Most Confident Negative Least Confident Positive Undecided China 72% Pos Portugal 95% Neg Philippines Saudi Arabia 72% Pos Croatia 95% Neg 72% Pos Greece 94% Neg Brazil 72% Pos Italy 91% Neg 91% Neg Indonesia 71% Pos South Korea While most economies were effected by the global Future of Personal Finances economic downtum. The world average shows that With global uncertainty about the future of jobs, what do people think of their future finances? globally people are split on the outlook of their finances World Average 47% | 49% 4% Optimistic Countries Pessimistic Countries Positive Negative Undecided Philippines Indonesia Brazil Saudi Arabia China 79% Pos 79% Pos 77% Pos 73% Pos Portugal Greece Italy Japan South Korea 86% Neg 86% Neg 83% Neg 79% Neg 79% Neg 71% Pos Given the state of the economy, do people want to buy now or buy Buy Now or Buy Later once the economy gets better? Then, once the economy gets better, what will people continue to save on, and what will they stop cutting With the world on the fence about their personal finances, do they want to buy or save for later? back on? 31% Say What About: Вuy Nбw When the economy gets better? What will people... Continue to Cut Back On Stop Cutting Back On Electricity and gas Groceries Takeout meals Clothes/Accessories Phone Charges Vacations Home Entertainment 66% Say Alcohol Buy Lafer Global Social Buying Habits / People and companies can interact around the world with connected devices. This begs the question: What products do regions want to buy given the ability to buy anything they want across the web? Now that we know when people will buy, lets look at what people want to buy. North America 32% Say they would buy nothing through a connected device...But if they had to, 25% said they would purchase Entertainment Tickets and Europe Apparel/Accessories related goods. Europeans would use their connected devices to purchase Travel Tickets (35%), Entertainment Tickets (29%), and They would definitely not buy Cars (Only 7%) or any sort of Apparel/Accessories (28%). Household Items (only 8%) They would not buy anything Pet related (Only 8%), any Cars (8%), or Digital Cameras (8%) Latin America Latin American countries would use their connected devices to purchase Entertainment Tickets (28%), Mobile Phones (27%), Asian Pacific Home Appliances (26%) and Apparel/Accessories (25%) Asian Pacific countries would use their connected devices to They would not buy anything Pet related (Only 8%), or any purchase Apparel/Accessories (33%), Travel (33%), House Cleaning Products (8%) Books and Magazines (30%), and Computer Software (29%). They would not buy anything Pet related (Only 8%), Cars (11%), or any Furniture (8%) Middle East, Africa, Pakistan Middle Eastem countries would use their connected devices to purchase Computer Software (33%), Travel (32%), Computer Hardware (27%), and Mobile Phones (27%). They would not buy anything Pet related (Only 8%), or any Furniture (8%) Global Buying Themes Looking at the different regions we can see some trends about what the global community is and isn't willing to buy via a connected device. People will buy: People Won't Buy Pet Related Items Travel Tickets Cars Entertainment Tickets (movies/shows) Apparel and Accessories Fumiture/Household items Final Thought It seems that while the global economy is still struggling to bounce back, there are some glimmers of optimism from regions that have in the past struggled. Along with the changing economy, the changing technology is making the global market more accessible. We are able to see early buying habits on connected devices, and it gives insight to future digital marketing. Created by Justin Poore [email protected] *All Data comes from the extensive 2012 Nielsen Consumer Confidnece Survey