Mintel’s 2008 British Lifestyles report, published in March 2008, looked at the potential winners and losers from the economic downturn, and at its effect on household budgets at the time of publication. This report takes a more detailed look at how consumers are coping with current economic circumstances, focusing on their attitudes towards their own finances and the economic situation in Britain. It looks at the coping strategies that consumers are adopting to deal with changed circumstances, and at ways in which companies can benefit by helping consumers to steer their way through the economic gloom.

Extensive use is made of quantitative research commissioned by Mintel specially for this report, and carried out in June and August 2008 by BMRB International Ltd among a nationally representative sample of 991 adults aged 15 and over. The findings are compared, where relevant, with research commissioned by Mintel in February 2008 for the British Lifestyles report.

Further insights are provided by qualitative research commissioned by Mintel for this report, which took the form of two focus groups, conducted in the South of England in early September 2008. The composition of the groups was as follows:

Group 1: Younger (Pre-Family and Young Family)

Four men, four women

Four pre-family adults aged 25-40 with no children

Four family adults with children aged under 16 years

Group 2: Older (Older Family and Post-family/Retired)

Four men, four women

All aged 50-plus, with no children under 16 living at home

Some with children aged 16-plus living at home, some with no children at home

Some working, some retired