Consumers in the downturn: trends for the next five years from the Future Foundation
Consumers are likely to become more demanding and price-sensitive but less willing to pay higher taxes or prices for the environment’s sake in a UK downturn.
Such was one of the sobering predictions of “Pump the Slump” - an event hosted by the Future Foundation (http://www.futurefoundation.net/), the research consultancy owned by the Experian group, as part of its regular “Changing Lives” series.
Another is that consumers are contradictory. So alongside a decline - from 51 per cent last year to 35 per cent in 2008 - in UK respondents who claimed to be willing to pay a 10 per cent premium for environmentally-friendly goods, 73 per cent of UK consumers also aid they still had concerns about what they could personally do to protect the planet (up from 40 per cent in 2006).