October 13th, 2023, Kineree Shah
In a recent YouGov survey, consumers across 17 international markets share their expectations about increases in spending across various categories over the next six months. Nearly half indicate they expect to spend more on groceries (46%), while a third anticipate a higher expenditure on utilities (31%). Consumers are more likely to increase spending on mobile phones (14%) than on financial products (11%). Additionally, electronics (12%) are on par with categories like out-of-home entertainment (13%) and cosmetic products (11%). However, spending intention on tech products varies by market.
Electronics
Expectations of increased spending on electronics are especially apparent in Asia. About a quarter of consumers in India (27%), the UAE (25%), and Hong Kong (24%) anticipate an upsurge in their expenditure in this category. Both Singapore and Indonesia report around one in six respondents (16%) expressing similar expectations.
In North America, there's a more subdued sentiment compared to Asian markets. Just over one in 10 Canadian consumers (11%) and slightly fewer in the US (8%) see themselves spending more on electronics.
In Australia, roughly one in nine consumers (11%) predict a rise in their electronics spending.
Focusing on European markets, Polish consumers are slightly more likely to spend more on electronics in the next months in comparison to Italy (9%), Sweden (9%), and Spain (8%). Just 7% of consumers in France, Denmark, Britain, and Germany – the least across 18 markets surveyed – expect to spend more.
Cell Phones
Now let’s look at consumers’ plans when it comes to cell phones. In Asia, India leads with nearly one-third of consumers (32%) forecasting an increase in mobile phone spending, closely followed by the UAE (26%) and Hong Kong (25%). In both Indonesia and Singapore about one in six consumers (20% and 16% respectively) expect to increase their mobile phone expenditure.
Over in North America, just over a tenth of consumers in Canada (14%) anticipate spending more on phones, while the US trails behind at about a tenth (9%). In Mexico, one in five consumers expects to increase their phone spend (18%).
In Europe, Britain leads with just over one in 10 consumers (11%) saying they expect to spend more on mobile phone expenses. Other markets, including Italy (9%), Spain (9%), France (9%), and Sweden (8%), have slightly fewer consumers with this outlook. Both Denmark and Germany are less spendy, with 6% anticipating a rise in mobile phone expenditure.
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Methodology: YouGov Surveys: Serviced provide quick survey results from nationally representative or targeted audiences in multiple markets. The data is based on surveys of adults aged 18+ years in 18 markets with sample sizes varying between 509 and 2,003 for each market. All surveys were conducted online in July 2023. Data from each market uses a nationally representative sample apart from Mexico and India, which use urban representative samples, and Indonesia and Hong Kong, which use online representative samples. Learn more about YouGov Surveys: Serviced.