Five Changes in Consumer Behaviour after the Recession

The recession has been a difficult time for millions of households which inevitably caused a profound shift in the behaviour of consumers. There has been a lot of commentary about the recession and associated problems, but very little on how things will change when it is all over.

In response to this we’ve highlighted five key ways in which consumer life has changed due to the economic collapse.

Is the High Street an Experience Worth Leaving Your Laptop For?

British high streets are in crisis. The three most affected areas are Stockport, Nottingham and Grimsby with the North West as a whole the worst affected and it is estimated that 2011 saw 20 shops close every day in the UK.

It all sounds very ominous and even though retail guru Mary Portas has outlined measures she claims will put the high street back on the road to recovery, it is unlikely to be a speedy one. Despite this, last week saw the announcement that consumer spending was up 0.9%, the strongest monthly growth since the Royal Wedding (April 2011). 

The Social Clock is Ticking

According to social norms turning thirty holds major life events; a major watershed, after which come marriage, children, career progression and buying a home.

 A survey undertaken by Gumtree.com found a remarkable 86% of the 1,100 young people questioned admitted feeling under pressure to succeed in their relationships, finances and jobs before hitting 30, and 32% felt hurried to marry and have children by the time they had reached 30.

TV and Online Start Their Relationship

TV and the internet are important mediums for both consumers and advertisers. However, combining the two together has never really been successful until now. Smart TVs were the big topic at the 2012 Consumer Electronics Show and projections are for 892 million smart TVs in homes by 2016.

Smart TVs will establish social networking, web browsing, user-generated content, online purchasing and other media firmly in the centre of the living room.