In the report shared this week, Mintel experts discuss the differences and similarities between the current and previous recessions, with recommendations to help brands weather the storm.
The latest GDP figures showed that the UK economy grew by 0.1% in November, boosted by the World Cup and spending on food and drink. But bad economic news continues to stack up. With the Bank of England predicting a “very challenging” two-year recession, new research from Mintel’s leading experts examines:
– How bad the recession will be
– The differences and similarities with previous recessions and
– Our analysts’ top recommendations to help brands weather the storm
Helping brands find opportunities even during upheaval
In any downturn, it can be easy to focus on the threats—but economic disruption can also bring many opportunities. Although the 2008 financial crisis was a difficult period for many brands, those with effective communication and innovation strategies emerged stronger.
While inflation will be higher than in 2008, on the upside in this recession unemployment will be comparatively lower and Brits will also have a war chest of savings built up over the lockdowns.
Mintel experts have over 50 years of experience supporting clients make better decisions faster. This research heritage enables us to analyse previous downturns and provide actionable insights for brands to learn from the past.
Download Mintel’s full free recession thought leadership analysis
Using latest consumer data, industry knowledge and experience guiding brands through previous recessions, Mintel experts analyse key areas of consumer spending and key recommendations for brands in the following categories:
– Food and drink
– Online retailing
– Travel
– Financial Services and
– Beauty and Personal Care
