Integrated brand communications firm brand-comm has recently announced the results of its ‘Recession Reactions Study 2009’, which unearthed sentiments about expectations about the recession amongst Bangalore college students.
The study reveals that while most students share the sentiment that students of their age have become conscious about the way they are spending, the self-consumption seems to be unchanged to a large extent. The students’ personal buying behaviour does not seem to be reflective of what they have heard and read about the recession. Majority of the students perceive recession to be a reduction in job opportunities, salaries and an increase in layoffs. Sixty percent or more opine that recession is being unnecessarily hyped in the media, which is very temporary and not a concern.
“Though the students have not become very conscious about their spends, they have become conscious of their future job opportunities. It was an interesting insight into recession-proofing when a respondent expressed a clear insulation from recession as her parents were working for a government organisation,” remarked Pavan Padaki, Director – Insights & Creative, brand-comm.
Surprisingly, more than half the number of respondents have indicated no change or an increase in expenditure on all the 10 prompted categories. As much as 60 percent of respondents were found not to have decreased their spends on personal/fashion accessories, gifting, electronic gadgets, magazines, clothing, CDs, etc. As high as 80 percent respondents opined that there had been no change or an increase in the amount spent on transportation, mobile bills, web downloads and eating out. Interestingly, almost 50 percent of respondents admitted to a decrease in their savings in the last four months.
Ramanujam Sridhar, CEO, brand-comm, said, “As a brand consulting firm, we at brand-comm undertake topical subjects to study a brand’s behaviour, consumer behaviour and market trends on an ongoing basis. Students as a segment play a key role in our markets and their behaviour seems to be ever changing.”
‘Recession Reactions Study 2009’ was conducted by brand-comm in collaboration with Jyothi Nivas College (Department of Management Studies) amongst 459 respondents in May 2009 across Bangalore. The survey was administered to college students across the city.