posted by Lee on Jul 6
Before the recession there was a trend toward people buying ethical products and no-where was this trend more marked than in the food industry. Remember the empty shelves as people clambered to buy free-range chicken. Fair-trade products also grew in their influence as people had money to spare.
As the recession bites, resulting in people losing their jobs, disposable income decreases and the take-up of these more expensive products declines. It is not rocket science.
The figures bare this out. A survey by conducted by Lightspeed on behalf of strategic marketing PR firm Cohn & Wolfe asked 1005 consumers showed that 73% of consumers will seek to find cheaper goods in the future.
Additional evidence is provided by the shopping statistics for UK organic food which declined by 1.7% following a steady increase over the past decade.
In a bid to save money consumers are turning increasingly to discount stores such as Aldi and Lidl.
August 2nd, 2009 at 3:56 am
the economic recession has been pretty hard on us. there is some good progress on the economy this year. i just hope that the economy will continue to recover in the following months and years.