Almost half of Europe is stressed out, with 47% of consumers suffering from significant levels of stress, ranging from “mild” to “severe”. Commuting, work, family, and socialising all prove to be stressful and consumers eagerly turn towards alcohol or pampering in order to unwind as opposed to the traditional cuppa.
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Stressed consumers are proving to be an ad man’s dream as they desire familiar, convenient brands and products and are willing to dig deep into their wallets in order to de-stress.
Looking at food, drink and personal care, market analyst Datamonitor has found that there has been an increase of €22bn (US$21.8bn) in stress related purchases over the last five years, with current spend per head on stress-driven purchases standing at €469 a year.
For manufacturers and retailers looking to capitalize on stressed consumers, its good news – not only does stress induce higher value purchases, but more of us will be stressed in future as key drivers of stress including commuting and financial insecurity are set to rise.
Datamonitor found that consumers at all stress levels find work and commuting to be the most stressful events in their lives. Stress affects consumers in a myriad of different ways, notably in terms of their patience, their decision-making and their needs. As a consequence, stress can be a key driver behind purchases of consumer packaged goods
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By GlobalDataTotal value of stress-driven purchases, (€m) 1996-2001
EURm 1996 2001 CAGR 1996-2001
France 24,897 26,712 1.4%
Germany 31,709 33,787 1.3%
Italy 9,786 10,887 2.2%
Netherlands 3,808 4,406 3.0%
Spain 9,140 9,625 1.0%
Sweden 3,602 3,921 1.7%
UK 23,875 35,485 8.2%
Other 21,363 24,964 3.2%
Total 128,180 149,786 3.2%
Source: Datamonitor CAGR = compound annual growth rate
Total value of stress-driven purchases, (€m) 1996-2001
1996 2001 CAGR 1996-2001
Ready meals 2,079 2,724 5.6%
Alcohol 120,669 140,976 3.2%
Hot drinks 4,377 4,701 1.4%
Personal care 1,055 1,385 5.6%
Overall 128,180 149,786 3.2%
Source: Datamonitor CAGR = compound annual growth rate
Familiarly breeds content
The main effects of stress on consumers’ outlook on the world are to make them short-tempered, quicker to make decisions, more impatient with mundane tasks and less willing to experiment with new ideas. When asked how this would affect their grocery shopping, respondents to Datamonitor’s Stress and Mental Well-being Consumer Survey indicated that they would reduce the time spent choosing between products as well as the overall time spent shopping and that they would be more likely to stick to known brands. However, they would not seek to simplify their shopping trip by reducing the range of products they bought.
When stressed, consumers’ key demands are simplicity, timeliness and familiarity. This is primarily a time for convenience-oriented products, and the consumer needs to know the product, have it easily to hand, and be able to enjoy it without wasting energy setting it up. Datamonitor found that while the need for increased convenience would encourage consumers to eat ready meals, actually eating out or getting a take-away were more popular solutions to having to prepare food when stressed, particularly as stress levels rose.
Stressed consumers demand pleasure, ease and habit.
Pleasure can consist of both relaxation and indulgence and helps the consumer to make the transition from stress to ‘normality’. Ease requires that the product not provoke any more stress when being enjoyed. Products that become associated with ease and comfort have a good chance of becoming part of a de-stressing routine. The development of a habit is a key goal for manufacturers of de-stressing products, as there is considerable psychological value for a consumer who can follow a set routine.
Consumers in the UK make the most stress-related alcohol purchases One market which gains considerably from stress is alcohol as consumers with “normal” to “moderate” stress frequently drink to unwind, both at home and in pubs, bars and cafes. Moreover, many consumers found that they would drink more while stressed due to the fact that they socialized more. Consumers in the UK make the most stress-related alcohol purchases, with the Germans coming second. Consumers also tend to change their choice of drink when stressed – those who drink out when stressed are more likely to choose beer or spirits, depending upon their stress levels, whereas those who drink at home to relieve stress were more likely to drink wine, at all stress levels. One reason for this is that wine can also be an indulgence – consumers are treating themselves as well as helping themselves to relax.
Hot drinks are generally held to have a close relationship with stress. However, Datamonitor’s survey found that this is not necessarily the case. Very few consumers find that there is a definite relationship between stress and hot drinks consumption, either at the moment of stress or afterwards, and a high proportion find that no such relationship exists.
More Europeans to suffer stress
“The overall level of stress in western European society is likely to grow steadily over the next five years, forcing people to search for new and better ways to handle the effects of stress. Work and commuting are the two most stressful activities in consumers’ lives and both of these are set to increase. The trends in employment which have led to stress – reduced job-security, greater pressure to produce results, longer working in hours in certain industries – are unlikely to reverse themselves, ensuring that work will continue to be a source of stress. The increasingly rapid development and deployment of new technologies will be another source of stress, as consumers have to learn to deal with an increasing array of equipment both within the workplace and in ordinary life. As a result of increased stress factors, consumers will place more and more value on products and services that enable them to escape from the pressure of their lives. There will be increased demand for products that offer a more convenient way to achieve mundane tasks, and for products which help consumers to wind down,” comments Andrew Russell, Datamonitor consumer markets analyst.
