A wave of stability hits the nation
The health, wealth and happiness index has now been tracking the well-being of the nation for 25 weeks. During this time 2CV has asked a panel of consumers from a range of age groups about how they are feeling.
And this week’s index appears to show the formation of the new coalition government has made us all feel a bit more stable.
The longer evenings and promise of hotter weather is also making us feel a bit better. Although there are talks of tough times ahead with an emergency budget due next month, it seems that a stable government has led to the public feeling more at ease.
Research from TNS also suggests that things are on the up. Its second wave of research looking at how people are feeling about the economic climate, suggests that although people are still worried about the impact of the recession in the UK, they are starting to spend more money.
But, consumer attitudes towards spending have changed for the long-term, the survey suggests. Almost half believe the recession has taught them to be more careful. Guy Kemplay, brand strategy director at TNS, says that this means that brands need to be even more defined in what they offer to consumers. Not everyone is trading down. Some consumers have an escape and indulge attitude and are willing to spend cash on brands that make them feel good about themselves. While other consumers are still looking to brands that are seen to be helpful.
There is no one defining attitude from consumers, but even those who are still worried about the recession are starting to spend on non-essential items. And perhaps over the next 25 weeks we’ll see longer periods of stability reported from the health, wealth and happiness, which can only be good news for business.
