Consumers and the Economic Outlook: Inc Impact of COVID-19 - UK - August 2020
“The UK is in the midst of its deepest recession on record. However, the recovery has already started, with monthly GDP growth in May and June. However, the winding down of state support for businesses presents renewed threats that could derail the recovery and is expected to lead to significant job losses. For now, though, consumers are content. Financial wellbeing is at record levels, with most consumers suffering no major ill effects from COVID-19. How sentiment fares in the months to come is heavily dependent on the scale of the anticipated job losses, and the performance of the wider economy.” - Rich Shepherd, Associate Director – Financial Services
“The UK is in the midst of its deepest recession on record. However, the recovery has already started, with monthly GDP growth in May and June. However, the winding down of state support for businesses presents renewed threats that could derail the recovery and is expected to lead to significant job losses. For now, though, consumers are content. Financial wellbeing is at record levels, with most consumers suffering no major ...
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Mintel conducts exclusive and original consumer research for reports, bringing up-to-date and unique insight to topical issues. This research examines the impact of social, economic, cultural and psychological influences on consumers.
Category Director - B2B, Social and Economic Research
About Rich Shepherd
Rich joined Mintel in 2013, and researches and writes a range of financial services reports. Prior to joining Mintel, Rich gained experience of lending and credit risk while working for HSBC. He has a BA (Hons) in Sociology.
Beauty post-COVID-19; innovate rather than discount to survive an economic downturn
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“Whilst BPC performed well during the last recession, a COVID-19 downturn will create more challenges in the category as recovery will be impacted by reduced usage occasions, online growth and the rise of masstige. As a result, beauty success will look different this time around. Brands and retailers need to ...
