‘Connectedness’ of Resilients key to their optimism in face of austerity
They’ve endured high unemployment and negative earnings growth but, according to JWT’s survey of 800 adults for the latest Austerity Index that analyses the impact of economic adversity on UK consumers, those age 18-39 are being dubbed ‘Resilients’.
According to JWT, Resilients “set themselves apart from older generations via a strikingly proactive and entrepreneurial approach to their finances, coupled with a comparatively upbeat and positive attitude”.
For example, rather than wait for a bail out or a hand up from the Government, Resilients are more likely than any other age group to take on extra work (35%), purchase items to sell on for profit (20%) or start their own business (11%). Furthermore, they are willing to make sacrifices in the face of austerity such as skipping meals to save money (40%), sell items they still need (30%) or move to a cheaper part of the country (18%).
“Naturally some of the Resilients’ can-do approach could be down to their youthful optimism but they may also derive some buoyancy from their sense of connectedness,” says Tracey Follows, Chief Strategy Officer at JWT London. “This generation has grown up witnessing and harnessing the power of social networks, so they have greater faith in themselves and communities to have influence and to drive change.”
