Many Kiwis ignoring the slump
4:00AM Thursday Oct 30, 2008
By Eloise Gibson

Ever been called an ostrich with your head in the sand? You're not alone - a new survey shows one in 10 New Zealanders is in denial about the economic downturn.

A survey of 500 New Zealanders by advertising agency M&C Saatchi found we had a sunnier view of the economy than people in Australia and Britain. Only 25 per cent of us felt pessimistic about the economy, compared with 36 per cent of Australians and 64 per cent of Britons.

The survey found people fell into eight categories. Our shopping habits were used to give us labels ranging from head-in-the-sand "ostriches" to "vultures" out to make a quick buck.

The biggest group - 23 per cent - were aware of the crisis but liked to keep spending if they could find an excuse. A freebie, a limited offer or a chance to buy the latest model was enough to convince these so-called "justifiers" it was okay to buy.

The second biggest group, dubbed "scrimpers", were more careful. They were buying the same types of things as usual, but had traded down to cheaper brands to spend less overall.

More here.