Reacting to consumers’ tightening purse strings by providing cheaper options and better deals during the downturn has resulted in retail leaders – and especially supermarket leaders – becoming more trusted to give their views on the economy than any single political leader. Thinking about how people feel is clearly the way to maintaining a strong consumer-facing business.
Many believe a marketer’s job is to be the consumer champion. With that in mind, Marketing Week is launching a weekly health, wealth and happiness index in partnership with research agency 2CV. We hope that this regular update on the mood of the nation will help marketers to understand how consumers react to the economic climate and even big sporting events.
As Doug Edmonds, managing director of 2CV, puts it: “With the economy either teetering on the brink of recovery or stuck in the doldrums, depending on which paper you read, and a general election looming and a World Cup nine months away, what better time to start measuring consumers’ perceived overall wellbeing and in particular, people’s personal stock of health, wealth and happiness?”
Who knows, we may even be able to pinpoint the moment that consumers believe Britain has left behind the economic crisis. If England wins the World Cup, will consumers’ happiness go off the scale? Marketing Week and 2CV hope this Index will provide marketers with insight that will help them to plan campaigns through 2010, whatever the mood of the nation.
Click here for Edmonds’ interpretation of this week’s health, wealth and happiness statistics.