Most people in the UK will be touched by the cost of living crisis but, according to research by VCCP, Brits are still spending any spare money on treating themselves.
This might mean something as small as sticking with your favourite brand of crisps instead of buying own label, or turning on the Christmas lights for some festive cheer.
The motivation is all about mental health and wellbeing, which is probably why the respondents also said they are keen to see more joy, optimism and inspiration from brands.
VCCP identifies four different types of spenders whose habits you can mostly guess from the names. The less affected people, still living for the present, are the “carefree comfortables” (33%) and the “reduced rewarders” (24%), while the “sensible downscalers” (16.5%) and the “just hanging-ons” (26.5%) are much more cautious in their outlook.
Brands will need a different approach for each of the consumer types, bearing in mind that everyone wants to feel that they are treating themselves in some small way.
Jenny Nichols, deputy head of planning at VCCP London said: “We wanted to delve beyond the national headlines and find insights from people to bring the issue to life in a way that was meaningful and, most of all, actionable. When brands emerge from this crisis, it’s crucial the sanctity of what makes them not only known, but loved, is protected.”
