GfK Survey Reveals Opportunities for Brands that can Give Back Time or Experiences to Consumers

Nuremberg, Germany (ots/PRNewswire) -

- Internationally, three times more people firmly agree than disagree
in wanting more time over more money
- Even among people with low income, twice as many firmly agree than
disagree
- For those aged 60+, the gap narrows significantly

In an online survey just released by global research experts, GfK,
three out of ten people (31 percent) would firmly* prefer to have
more time than more money - compared to only nine percent who firmly*
disagree with that. And over four out of ten (44 percent) firmly
believe that experiences are more important than possession -
compared to just three percent who firmly disagree with that.

GfK asked 22,000 people across 17 countries how strongly they
agree or disagree with two statements: "I would rather have more time
than more money" and "Experiences are more important than
possessions".

Internationally, three times as many people firmly agree than
disagree that they would rather have more time than more money. And
well over ten times as many people firmly agree than disagree that
experiences are more important than possessions.

This preference for more time over more money is especially
important for people in China (41 percent), Brazil (37 percent) and
Argentina (32 percent). And agreement with experiences being more
important than possessions is highest in Mexico (57 percent),
Argentina and the USA (both 53 percent).

Income plays a factor in consumers' mindsets, but possibly not to
the extent that may be imagined. There is only an
eleven-percentage-point difference between people in high income
households and those in low income households, when it comes to the
numbers who would prefer to have more time than more money (38
percent versus 27 percent).

A similar picture is seen in people's perception that experiences
are more important than possessions. Half of people in high income
households agree to this (50 percent) compared to 38 percent of those
in low income households.

Money becomes relatively more important to those over 60

There are also some differences to be noted between different age
groups. Internationally, those in their twenties and thirties have
the highest percentage of any age group that would prefer more time
to more money - standing at over a third (36 percent) each. And they
also have the smallest percentage of those strongly disagreeing with
that (7 percent each).

In contrast, for those aged 60 and over, there is a much tighter
difference in the numbers favoring more time to more money (19
percent) versus those indicating they would rather have more money
than more time (13 percent).

When looking at the perceived value of experiences versus
possessions, age does not make a significant different in outlook.
Those in their twenties are thirties are the most in favor of
experiences over possessions, with 46 percent firmly agreeing with
this, dropping to 40 percent for teenagers (15-19 year olds).

GfK's findings clearly show market potential for brands that can
associate themselves in consumers' minds with giving quality time
back into people's lives, or with making daily tasks simpler and
faster. Brands can also raise themselves above close competitors by
identifying ways to turn their purchase process into more of an
experience for the consumer.

Download GfK's complimentary report
(http://www.gfk.com/global-studies/global-study-overview/) to see how
results differ for each of the 17 countries surveyed:

Footnote: *All the data presented in this release represents the
top 2 boxes (agreement) and bottom 2 boxes (disagreement) from on a
7-point scale where "1" means "disagree strongly" and "7" means
"agree strongly."
http://www.gfk.com/global-studies/global-study-overview/

ots Originaltext: GfK SE
Im Internet recherchierbar: http://www.presseportal.de

Contact:
Amanda Martin
Global PR
+44 7919 624 688
press@gfk.com. Press contact: Stefan Gerhardt
Global PR
+49 911 395 4440
press@gfk.com

Original-Content von: GfK SE, übermittelt durch news aktuell