Trends Impacting Today’s Italian ConsumerSabrina Tharani |
Italy, the world’s eighth largest economy, is once again making European headlines with an ongoing recession greatly impacting economic growth and consumer confidence. The recession, which began in late 2009, has forced Italian consumers to make significant cutbacks as a result of high unemployment and the declining value of their savings and investments.
Nevertheless, Italians are reluctant to let the economy define them—they continue to look for ways to maintain their lifestyles without fundamentally changing their values. In the last year, they have continued to spend, albeit at a dramatically lower rate; at the same time, they have adopted spending strategies and calculated shopping approaches to achieve financial balance.
With this in mind, Global Insights thought it would be enlightening to take our “Remaining Relevant” work, in which MasterCard identified emerging consumer trends in the U.S. impacting banking and payments, and apply those categories to Italy.
Our new position paper: Trends Impacting Today’s Italian Consumer examines four consumer trends currently exercising the greatest impact on banking and payments in Italy.
For more information, or to download the paper please visit the research landing page.
Topics: Economic Outlook