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(TNSres) -- Monash University issued the following news:
The latest Cost of Living and Consumer Deviance Spotlight report, from Monash Business School's Australian Consumer and Retail Studies (ACRC) group, provides shocking context to the cost-of-living crisis experienced by consumers. The key findings from the report indicated that consumers have changed their spending habits to alleviate financial pressure and can justify certain deviant behaviours.
Many Australians are offsetting increases to non-discretionary spending (e.g., housing, essential groceries, insurance) with decreases in discretionary spending (e.g., restaurant and takeaway meals, clothing, footwear and accessories) to meet the current costs of living.
Lead researcher, Stephanie Atto from ACRS, said the study asked shoppers about consumer confidence, non-discretionary and discretionary spending, and the justifiability of a range of behaviours given the current economic conditions.
"We wanted to understand if and how consumers are changing their spending habits to relieve these financial pressures, and how justifiable certain...