Here at Future, we’ve long argued that behaviours acquired during the economic downturn - especially those relating to personal finances - won’t simply be abandoned even once disposable incomes begin to look a bit healthier. As such, we can expect millions to remain committed to a more considered approach to consumption - one in which budgeting, discount-seeking and maximising (searching for the best value) are all important priorities.
We’ve also been struck by just how consistent this attitude remains across the standard demographic breaks, with, for example, those in the higher social grades being just as likely to say that they’re taking a more measured approach to their personal finances as other groups of consumers. Even those defined as “mass affluent” will say the same.
As our chart here shows, then, New Normal consumption will not be going anywhere in the 10s. For all types of consumer, it’s an approach that’s here to stay.