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BizReport : Ecommerce : January 14, 2010


British consumers still reeling from ripples of recession

Consumers are still being affected by the financial ripples generated by the recent recession and, just because some media reports claim the recession is over, doesn't mean marketers should abandon brand messages that acknowledge that lean times remain ahead for many.

by Helen Leggatt

shoppercentric logo.jpgShoppercentric today announced a follow-up study to their January 2009 "Shopping in the Recession" report.

A year on and their figures (.pdf) show that the number of British consumers forced to make significant adjustments to their weekly grocery shopping bill continues to rise - up 25% on last January and now representing nearly a third of the U.K. population.

The study also found that unemployment continues to affect many, with 20% of respondents having experienced a reduction in income compared to last January's 11%.

"The increase in the number of consumers affected by the recession links closely to the growth in the proportion of people experiencing job losses and pay cuts / freezes, it's a difficult time for a lot of people," said Danielle Pinnington, managing director at Shoppercentric.

"The key message here is that whilst economic data shows the recession is coming to an end (or has indeed ended), the impact will continue to be felt by the public for some time to come. Retailers and manufacturers need to be responding accordingly and bear this in mind with regards to promotions and pricing strategy. By making a connection with customers and understanding their needs and budgets (and responding appropriately), businesses will earn trust and loyalty, factors that are invaluable for long term growth and success."

Tags: consumer budgets, consumer spending, online shopping, recession, spending trends










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