Wednesday, May 27, 2009

Gloom Has No Effect On Bangalore’s Young ’Uns

Gloom Has No Effect On Bangalore’s Young ’Uns
Shruthi Balakrishna | TNN

Bangalore: Recession? What recession? For college students, it is a word far removed from their lifestyle, a distant ogre which is temporarily reducing job opportunities and laying off people.
By and large, students are insulated from the pinch of the R-word: over 80% say there is no change in the amount spent on transportation, mobile bills, web downloads and eating out due to a gloomy economy. Over 60% have not decreased spend on personal/fashion accessories, gifting, electronic gadgets, magazines, clothing and CDs.
A recession reactions study 2009, conducted by an integrated brand communications firm in association with
the department of management studies of Jyoti Nivas College, has revealed that nearly 50% of students have admitted to a decrease in their savings in the past four months.
“But spending has not come down. In fact, an interesting insight into recession-proofing is a student who expressed clear insulation from recession as her parents were working for a government organisation,’’ said Pavan Padaki, director (insights and creative), Brandcomm. The study covered 459 students from 30 colleges across Bangalore.
While most students feel they have become conscious about the way they spend, consumption seems unchanged to a large extent. Notably, there seems no significant difference in consumption pattern among graduates, postgraduates, boys or girls. For college kids, recession means little TIMES NEWS NETWORK
Bangalore: The recession seems to have had little or no effect on Bangalore’s younger generation. A majority perceived recession to be generating fewer jobs and layoffs or a slowdown in business activities. Only some students expressed it in terms of the country’s economy/GDP growth/inflation etc., while 15-20% were unaware or had no opinion on the term ‘recession’, a study said. It was carried out by a brand firm and the department of management studies of Jyoti Nivas College.


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