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Winning Strategies in a Recession PDF Print E-mail
Written by Millward Brown   
25 Sep 2009

Millward Brown has conducted a study using the IDEABLOG™ social media research platform looking at the impact of the recession across Europe.

The integrated qual-quant study, which was conducted across 11 European countries among over 1,700 respondents, is the largest ever multi-country application of IDEABLOG.

It reveals how recession has impacted people’s lives not only economically, but also in terms of their life values.

The IDEABLOG platform is a real-time, interactive study which allows research participants to explore concepts, interact with each other and share their ideas to provide a deeper understanding of people’s reactions to the recession.

Key pan-European lifestyle trends identified by the research include:

Cocooning 2.0
— There is a renewed appreciation for the simple pleasures in life such as spending time at home, cooking, gardening — and using the internet for entertainment

Scrutinising consumption
— Many people are reclassifying what constitutes a luxury, avoiding impulse purchases and screening their purchases more carefully for real value. Cheap is the new chic. At the same time it appears that people are remaining fiercely loyal to trustworthy and loved brands

Little treats
— While spending on big ticket items has declined, people are still spending on small and inexpensive treats to help them feel better

New sense of consciousness — A sense of responsibility for some of the problems that have occurred and a new focus on family, friends and health

Click here to read the full report by Cecile Conare, European Qualitative Manager, Millward Brown.

 
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