“Quality, durability, local purchasing and responsible consumption continue to matter.”
The latest study surveyed 1096 New Zealand adults on about 360 questions covering their attitudes, values, lifestyles and consumption behaviours.
Consumers were divided into six segments, reflecting differences in their financial circumstances, values and priorities.
“Financial strugglers” made up the largest group at 27%, followed by “contemporary mainstream” consumers at 23% and “ethical pragmatists” at 16%.
“Contented traditionalists” accounted for 13% of respondents, while “aspirational materialists” made up 11% and “disengaged drifters” 10%.
Watkins said the findings highlight the different ways Kiwis were responding to economic, social and technological changes.
“Understanding those differences – in people’s financial circumstances, values, priorities and ways of living – is increasingly important for organisations seeking to understand and serve New Zealand consumers.”
Despite spending more time online, consumers were not necessarily more receptive to digital marketing.
“Consumers may be spending much more of their lives online, but that doesn’t mean every digital message is persuasive.”
Celebrity endorsements had little influence on 71% of respondents, while 59% ranked friends and family as important.
“Interpersonal trust remains extremely important. For businesses, simply increasing the volume of digital communication is unlikely to substitute for delivering genuine value and positive customer experiences.”
Responsible consumption also remained a consideration despite ongoing financial pressures.
Looking after what they already own is one way consumers are trying to keep costs down, with 85% agreeing that taking good care of their possessions saves money in the long run.
A further 84% said there was little point buying something new when an existing item could be reused, while 82% said they were careful with their spending.
“The relationship between affordability and sustainability is particularly interesting,” Watkins said.
“Behaviours such as buying durable products, repairing and reusing possessions, avoiding waste and purchasing thoughtfully can make sense both financially and environmentally.”