As far as the recession goes, Canadians say the end is in sight. But like the rest of the world, they’re concerned about how things look right now.
So says the 2009 Consumer Economic Impact Study from IMI International. The Toronto-based research and consulting firm recently surveyed more than 3,500 consumers in 15 countries to find out how consumers viewed the global recession.
IMI’s researchers were surprised to see such a high level of consistency in attitudes around the globe.
“There’s total consensus on what’s going to motivate [consumers], how they’re going to act and what they expect,” said Don Mayo, managing partner at IMI. And whether they’re in Canada or the U.S., consumers said they prefer to see product benefits—not entertainment—in advertising.
With Canadian consumers identifying so strongly with their global counterparts, Mayo sees an opportunity for ad agencies to expand their business. “Now’s the time for Canadian agencies to take their ideas, work them here and export them globally.”
When asked what kind of message would convince them to buy a product, opinions among the survey’s participants were split along age levels. The younger demographics generally skewed towards terms such as “cheap” and “low priced,” whereas older groupings looked for “great value.”
“It’s a generational gap that now exists in the marketplace,” Mayo said. “Brand and sales planners need to understand if they don’t speak to the right person at the right time and in the right place with the right messaging, a potential sale could be lost to another brand [that] communicates to consumers on their level.”
Based on their averaged answers, Canadian participants also expect the recession to reach its worst in March 2010, with recovery coming in January 2011.
