Consumers and The Economic Outlook - UK - March 2013
It is now more than five years since Northern Rock collapsed. Since then, the UK economy has experienced once of the steepest recessions on record, and one of the most anaemic recoveries. Consumers’ purchasing power has been eroded by inflation, and wages haven’t been rising enough to compensate.
In some ways, though, the slowdown has been more manageable than previous recessions. Unemployment, while higher than it was in the boom years, never reached the levels that were seen in the early 1980s or 1990s. Low interest rates have helped support mortgage holders, and to hold down the levels of bad debts.
Mintel’s research shows that most consumers have adjusted reasonably well to the new economic realities. Some are struggling, but the majority are at least making ends meet. And confidence has been edging upwards over the last year or so.
In this report, Mintel examines the economic issues that are affecting consumers’ finances, and uses both qualitative and quantitative research to help understand the impact that the slowdown has had on people’s attitudes towards spending, saving and borrowing. We also assess how confident consumers are about their future financial prospects, and how positive they are about the health of the broader economy.
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This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Mintel's proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.
Market reports provide appendices of data to support the research and insight produced. Our tables of data are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
* This is a sample representation of the report layout and does not reflect the research included in this report.
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