In March 2009 we completed the second stage of our research into the impact of the recession on the UK consumer. This stage of “The upside of down” looked at how the current climate was impacting consumers’ leisure time.
We found that the recession has brought about a shift in consumers’ day to day behaviour, outlined by the following 5 key changes:
- The drive to self fulfilment
75% agree that “the downturn is encouraging me to evaluate what is really important in life” - The experience economy
60% agree that “I am more actively looking for cheap ways to have fun” - Navigating Choice
84% think suppliers should be making it easier for them to save money - Personalisation of authority
76% don’t know who to trust for information about what is really going on
38% I won’t book in advance in case the travel companies go bust - Search for authenticity
78% agree that “it is good for us to have to be thrifty and explore new ways of saving money”
Understanding how the recession has changed consumers gives companies a real opportunity to be more relevant than ever. If you would like us to come in and talk to you about how you can make the most of the upside of the downturn please click here or call Adam Leigh or Peter Batchelor on 020 7224 3456.