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Consumer Life Report: Disunited Kingdom

As the recent referendum result has shown, the British people are more driven by divisions that at any point in the past 50 years. There are many uncertainties ahead, as well as unanswered and unanswerable questions. One immediate question that brands and companies in all sectors should be asking is, how to effectively speak to and address the needs of British consumers.

This special, one-off report combines the latest data from our post-referendum Consumer Confidence Barometer with a longer term view from GfK Consumer Life on how the values, attitudes and behaviours of UK consumers are shifting by age and income group, and what this means for the brands, products and services they choose.

 

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Introducing GfK Consumer Life

How can we understand tomorrow's Consumer and thus implications for brand growth? For over 25 years, companies have turned to GfK Consumer Life (Roper Reports) to dive deep into today’s market and where it’s heading, to develop strategic opportunities.

Covering all aspects of consumer behaviour, attitudes and values, Consumer Life is our key tool to help marketers plan for the future across mature and high-growth markets worldwide. Every year we ask over 30,000 consumers about their wants and preferences to identify opportunities in categories from food to finance, beverages to beauty, appliances to automotive.

Find out more

Other available Consumer Life reports

You also might be interested in these Consumer Life reports, which are availabe

    • 05/25/17
    • User Experience (UX)
    • Global
    • English

    Consumer attitudes around materialism present opportunities for brands

    According to the results just released from our online international survey, three out of ten people (31%) answered firmly that they “would rather have more time than more money”.  In comparison, only one out of ten respondents (9%) disagreed with the same statement. The survey also asked how strongly its participants agree that “experiences are more important than possessions”, with over ten times as many people firmly agreeing rather than disagreeing.

    Breaking down the results by country, income and age

    Those in China (41%), Brazil (37%) and Argentina (32%) ranked the highest, respectively, for their strong preference for more time over more money. Mexico (57%), Argentina (53%) and the United States (53%) ranked the highest in firmly agreeing that experiences are more important than possessions. Income played a minor role in the response variances, with higher income households valuing time and experiences slightly more than lower income households, but not to a significant extent. Survey respondents aged over 60 were more split in their answers, with 19% preferring “more time to more money” and 13% preferring the opposite.  Those in their twenties and thirties value time over money the most, at 36% agreement vs. 7% who disagree.

    What it means for brands

    These findings clearly demonstrate that there are strong opportunities for brands that can associate themselves in the minds of consumers with giving quality time back to their lives, or by simplifying and quickening their daily tasks. Brands can also differentiate themselves from competitors by identifying ways to turn their purchase process into more of an experience for the consumer.

    About the study

    *All the data presented in this blog represents the top 2 boxes (agreement) and bottom 2 boxes (disagreement) from on a 7-point scale where “1” means “disagree strongly” and “7” means “agree strongly.” GfK conducted the online survey with over 22,000 consumers aged 15 or older across 17 countries. Fieldwork was completed in summer 2016. Data are weighted to reflect the demographic composition of the online population aged 15+ in each market. The global average given in this release is weighted based on the size of each country proportional to the other countries. Countries covered are Argentina, Australia, Belgium, Brazil, Canada, China, France, Germany, Italy, Japan, Mexico, Netherlands, Russia, South Korea, Spain, UK and USA. hbspt.cta.load(2405078, 'a306f888-d631-48d8-8c27-694eed885a0f', {});
    • 05/25/17
    • Market Opportunities and Innovation
    • Trends and Forecasting
    • Global Study
    • Consumer Life
    • Global
    • English

    Opportunity for brands that can give back time or experiences to consumers

    Three in ten people (31 percent) would firmly prefer to have more time than more money – compared to only nine percent who firmly disagree with that. And over four in ten (44 percent) firmly believe that experiences are more important than possession – compared to just three percent who firmly disagree with that. 
    • 05/24/17
    • Press
    • Financial Services
    • Public Services
    • Trends and Forecasting
    • Global
    • English

    Upward trend in the consumer climate continues

    Findings of the GfK Consumer Climate Study for Germany for May 2017
    • 05/24/17
    • Consumer Goods
    • Geomarketing
    • RegioGraph
    • Geodata
    • Picture of the month
    • Global
    • English

    Map of the month: GfK Purchasing Power for cosmetics, Germany 2017

    GfK's Map of the Month for May illustrates the 2017 regional distribution of purchasing power for cosmetics at the level of Germany's urban and rural districts (Datenquelle: GfK Purchasing Power for cosmetics, Germany 2017). The data helps companies that sell cosmetic products and services to more effectively manage operations and pinpoint promising regions for sales and marketing campaigns.
    • 05/23/17
    • Global Study
    • Global
    • English

    Consumers value time and experiences more than money and possessions

    Internationally, three times more people firmly agree than disagree in wanting more time over more money. Explore the full findings by country, gender, age and income.
    • 05/23/17
    • Global Study
    • Global
    • English

    Global study: attitudes around materialism

    Consumers value time and experiences more than money and possessions. Explore the full findings by country, gender, age and income in our global study.
    • 05/23/17
    • Global
    • English

    Presentation: Innovation and UX

    Digital experiences have driven us into working in an agile way. But how do we plan for the big changes? Watch our 30 minute recording from the UX Masterclass 2017 in Shanghai. 
    • 05/23/17
    • Retail
    • Promotion and Causal Retail
    • Global
    • English

    Track the execution of launch campaigns to ensure they achieve lift off

    As a manufacturer, you’ll know that the launch phase of a new product is absolutely critical. As our recent POS Analytics study in Japan shows, product life cycles can be short. As much as 90% of the overall sales of mobile PCs and smartphones in this market are delivered in less than 10 months of their launch1. You have just a small window of opportunity to make sure your product secures its target share of market and sales against the competition. You will therefore invest heavily in a sophisticated launch campaign with key retail partners to promote your product. But how can you be sure your trade marketing campaigns are being executed as agreed?

    Monitor key retail partners’ performance to get the maximum ROI

    Let’s look at the major smartphone manufacturers. Three have recently launched new generation flagship models. They will want to know how the launch promotions they have designed and agreed with their various retailer partners are being implemented. Is their product achieving maximum visibility across retailers’ channels? Are they using the right video online? How is the product positioned in-store? How is it featured in their seasonal TV advertising? Often trade marketing campaigns focus on promoting a particular technical feature or benefit, like an infinity screen, or a sophisticated camera that can take high-end pictures for posting on social media. If you are running a feature-led campaign, you will want to ensure that retailers are promoting the relevant selling point to consumers across touchpoints.

    Determine how retailers are implementing the campaigns you’ve devised for them

    You should monitor online, in-store and print advertising to determine how retailers are implementing the campaigns you’ve devised for them. You will know if your product features prominently in their advertising and promotional materials at the point of sale, if it is reachable within five clicks on their website and whether it appears in one of the “golden locations” (i.e. the front entrance of end of aisle, etc.) in their stores. Similarly, you can monitor the execution of your competitor’s campaigns. By combining intelligence on the execution of different elements of your trade campaigns by retailers and their sales data, you can determine the success of your campaigns. More importantly, you can align your efforts and investment – in different channels, campaign elements and retail partners – with your results. This level of transparency about your campaigns and retail partners’ performance is invaluable when it comes to agreeing campaigns and your level of investment with retailers. Contact me at Karsten.holdorf@gfk.com to find out how we can help you to optimize your trade promotion management. 1 Our recent GfK POS Analytics studies of durable goods in Asia provide evidence of increasingly short product life cycles. In Japan, for example, 90% of the overall sales of mobile PCs and smartphones are achieved in less than 10 months. However, selling the last 10% of these products takes longer than the entire time needed to sell the first 90%, despite the best price incentives being employed for the final 10%. hbspt.cta.load(2405078, 'c77fd723-a4d7-48d5-bc79-1bb260aeed50', {});
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