Two out of five Americans with contract-based cell phones (39% or 60.3 mln consumers) are likely to cut back on their cell phones to save money if, as is widely expected, the economy gets worse over the next six months, according to Opinion Research Corporation (ORC) for the New Millennium Research Council (NMRC).
26% of consumers with contract-based cell phone service are more inclined today than 6 months ago to look at a way to save money on their cell phone bill, such as by switching to prepaid phone plans and services. This group includes 38% of those in households making $35,000 a year or less, 32% of African Americans and 30% of those aged 18-34. A total of 19 mln Americans have considered cutting back (5%) or actually have cut back (15%) on such features in the last six months because of actual job loss, fear of job loss, the recession, or any other related financial concerns. More than two out of five cell phone users with extras on their phones (41%) say it is very (19%) or somewhat (21%) likely that they will cut back on cell phone extras if the economy gets worse in the next six months. Fewer than two in five (39%) say it is not likely at all that they will make such cuts in the face of a deepening recession.