We've all seen the evidence, whether in the newspapers, in the retail sales numbers, or in our own local stores: consumers are responding to the recession by reining back on their spending. And if the changes are most noticeable in food and household goods, these are by no means the only sectors affected - value operators now account for 25% of the UK clothing market while in leisure, the budget airlines and hotels continue to gain share Given the current economic conditions, this is no great surprise; the more critical question is whether these changes in consumer behaviour are likely to be permanent.
In the last 3 months we've interviewed over a thousand consumers, and some of the leading CEOs in the retail, consumer goods, and leisure sectors. We wanted to look behind the headline figures and media stories to identify whether the trends in consumer behaviour we're seeing now are temporary, or indicative of a far more enduring step-change in the way we shop now.
We would be interested in sharing our research with you or hearing your view so please don't hesitate to get in touch.