The latest Consumer Eye study features a spotlight on personal finance, highlighting that consumers have become more aware of their own financial situation and the state of the economy, and more wary of previously inscrutable institutions. Reducing spending is the priority for 40%, while for 25% it’s reducing debt, and for 16% it’s saving.

Caution is the key for many as 53% cite the top reason for saving is ‘peace of mind’. Holidays were the second highest answer at 48% while saving for ‘retirement’ and ‘in case the economic situation worsens’ were also among the more popular responses (both at 35%).

When asked to compare levels of trust in various institutions against this time last year 64% of consumers stated that they now trust the financial sector less, 56% now also trust the government less.  Despite this, high street banks are still the go-to destination for most financial products and services.

Consumer Eye is a quarterly survey of over 3,000 readers provides an insight into consumer confidence, views on the economic outlook and current and future purchase intentions.

The research is aimed at providing News International and its customers with valuable insights that could help to develop advertiser’s communication approach to consumers. The size and frequency of Consumer Eye will provide one of the most comprehensive and up to date consumer surveys available to marketers.

Consumer Eye Study 5 (PDF 2MB)