Just 26% of consumers said they would cut back spending on drinking at home, according to Mintel’s British Lifestyles report. The average British household spends £30 a week on alcohol.
Meanwhile, 74% said they would spend less on clothes, 66% said they would cut back on restaurant trips and 59% said they would go to the pub less.
Mintel found that fear of the recession is driving consumer behaviour more than an actual change in circumstances. Less than half of the adults polled said they had been personally affected by the recession, but 71% had cut down on spending?.
Consumer research head James McCoy said: “Fear alone can cause major spending adjustments.
Three in 10
adults have cut back on their spending through fear of how the recession might affect them. The challenge for manufacturers and retailers is to overcome this fear and make consumers feel safe about spending again.”?