More guilt attached to spending

Josie Farnsworth
TGI Global

There are signs that the middle class is feeling guilty about spending on non-essentials. This shift in attitudes has been most stark among middle-class consumers in Western nations, prompting us to question whether this is a prolonged shift in mindset and whether the opposite is true in markets where economic growth has remained robust.  

How confident are the middle-class in their spending?

In Figure 1, each market is examined relative to its consumers' level of agreement with the attitude statement: "I tend to spend without thinking".

Middle-class consumers in India and South Africa have the least control, being 48% more likely than other middle-class consumers to agree. The same consumers in Germany and Turkey are significantly more confident in their spending than any other market, reflecting their less fragile economic situation.