Undeniably, 2009 was a tough year; tougher, in fact, than many expected, and certainly tougher than customers in early 2009 were lead to believe. But what impact has the credit crunch, followed by months of recession and rising unemployment, had on the customer?
Perhaps inspired by the arrival of a new year, today’s customers have some hope for the British economy: our January Political Monitor
reveals that 44% believe the general economic condition of the country will improve over the next 12 months, compared to lows of around 10% through most of 2008. While this doesn’t tell a story of unrivalled optimism (we must bear in mind that 28% think the economy will stay the same and 24% think it will get worse) – it does say that many feel the worst has now passed.
Indeed, although the economy was seen as the most important issue facing Britain throughout last year, 49% believed this in November compared to a high of 70% in January 2009. And customers’ perceptions of living standards remain positive: 71% say they are satisfied with their standard of living – a figure that has stayed fairly stable since we first asked it in 1988. However, concerns about unemployment continue to rise. And a comparison of this recession against the last two suggests this may be the case for some time.
What does this mean for today’s customers? Read more to find out.