As the year comes to end, we asked consumers whether they are planning to save more in the upcoming year. According to the latest data from YouGov Profiles, an audience intelligence tool, they are.
A majority of consumers in Indonesia are likely to say that they are planning to save more next year (84%). Respondents in Mexico emerge next on our list with more than three in four saying so (77%).
In eastern markets, where a majority of respondents agree that they plan to save more next year, a smaller share of the audience are still on the fence. In the UAE and urban India, for instance, more than three in five plan to save more next year, but one in five are undecided. Even though a considerable proportion of consumers in Australia (63%) and China (62%) tell us that they plan to save more next year, about three in ten neither agree or disagree to do so (29% and 33%, respectively).
Of the markets in our survey, respondents in the US rank sixth in planning to save more next year (68%). But it’s also worth noting that a small share of Americans are likely to say the opposite (13%). Digging deeper suggests that when it comes to saving, it’s the younger US audience who are more inclined to do so (18-29: 78%; 30-44: 74%; 45-64: 66%; 65+: 53%).
In the UK, consumers are more likely to say that they don’t plan to save more next year (20%) while a similar proportion (22%) are unsure. Three in ten consumers in Germany tell us they do not plan to save more next year – the highest group in our survey to indicate so (30%).
In general, plans to save more next year are less pervasive among consumers in Europe (Spain: 52%; Italy: 50%; France: 47%).
With COVID-19 infections making a comeback and soaring inflation in some countries, consumers spending and saving patterns may be even less predictable in 2021.
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Methodology: YouGov Profiles is based on continuously collected data and rolling surveys, rather than from a single limited questionnaire. YouGov Profiles data is nationally representative and weighted by age, gender, education, region, and race. Learn more about YouGov Profiles.