Changing consumer behavior in the UK: The rise of the smart consumer

Changing consumer behavior in the UK: The rise of the smart consumer

Code: ML-ML00019-018 | Published: Jun-2015 | Pages: 21 | MarketLine
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Consumer behavior in the UK has altered significantly. Consumers have become increasingly confident, shrewd, and more difficult to please, as evidenced by rising complaints and lower customer satisfaction levels. Whats more, the concept that people can bring about change through the way in which they spend has developed into a situation where the consumer holds an increasingly powerful position.



Key Findings
- Looks at changes in consumer law and how this has impacted the retail market.
- Assesses how digitilization has brought about a change in consumer trends and demands.
- Details how the recession has led to a lasting shift in consumer behavior.

Reasons To Buy
How have changes in consumer law altered the status of consumers?
What changes in consumer behavior have been brought about by digitilization?
How are retailers responding to these changes?
How has the recession shifted consumer behavior in the UK?

Table of Contents

OVERVIEW
Catalyst
Summary
UK LAW CHANGES HAVE INCREASED CONSUMER CONFIDENCE
Consumer status improved through law changes
Government departments established to protect consumers
Products sold in the UK are required to meet certain standards
Emphasis on consumer rights means consumers now expect more
DIGITALIZATION HAS CHANGED THE WAY CONSUMERS SHOP
Internet and smart technology has become increasingly prolific
Consumers are increasingly using e-commerce
Digitalization has ended the one-way flow of information
TOUGH ECONOMIC CONDITIONS HAVE GIVEN RISE TO A SMART CONSUMER
Recession created tough conditions for consumers
Consumers have become more frugal
CONCLUSIONS
Increased power for consumers means increased accountability for businesses
Consumer spending is important to economic recovery
APPENDIX
Sources
Further Reading
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