Feeling the Pinch? - UK Economic Report
- Just how concerned are UK consumers about their personal financial situation?
- How and where have consumers started to cut back their spending?
- Where are they most likely to cut back their spending as the economy weakens further over the coming months?
- What kinds of value are consumers most reluctant to give up, no matter how tight their finances get?
- Will green and ethical consumption take a back seat as financial pressures bite?
This report focuses on how consumers are responding to the downturn in the UK economy. Based on a quantitative survey of 2000 consumers conducted in late July 2008, the report assesses current levels of anxiety and how consumers’ spending and consumption behaviour has changed, and is likely to change over the next 12 months.
It includes a rigorous analysis of the macro-economic context with forecasts for the economy and consumer spending. We profile the extent and nature of consumers’ anxieties about the economy and their personal finances, including how this varies between different segments of the UK population.
We analyse the impact of financial concerns on consumer purchasing behaviour. In particular, we identify the value trade-offs consumers are willing to make, and the consequences for marketing and sales strategies. We explore how brands should be responding to this changing economic landscape, illustrated with examples from a range of sectors, such as FMCG, financial services, retail and telecoms.
Feeling the Pinch? is available now as an electronic publication and as an in-person briefing.
For more information, please contact: Will Galgey or Karen Kidson
.