The middle-class is feeling increasingly guilty about spending on non-essentials, a shift most marked in Western nations, where TGI notes the emergence of a bargain-hunter mentality in the UK and US.
More guilt attached to spending
Josie FarnsworthTGI 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"....