{"id":15684,"date":"2022-11-23T09:55:06","date_gmt":"2022-11-23T09:55:06","guid":{"rendered":"https:\/\/www.vccp.com\/?post_type=news&p=15684"},"modified":"2022-11-25T10:54:57","modified_gmt":"2022-11-25T10:54:57","slug":"hard-times-strong-brands","status":"publish","type":"news","link":"https:\/\/www.vccp.com\/uk\/news\/2022\/nov\/hard-times-strong-brands","title":{"rendered":"Hard Times Strong Brands"},"content":{"rendered":"
\n
\n \n \n

At a time when the Cost of Living crisis is predicted to push 1.3m people in the UK below the poverty line<\/span> and households are facing a \u00a37 billion rise in energy bills<\/span>, a potent anxiety looms as the nation is heading towards the longest recession since records began. Although the country has long been grappling with low optimism since COVID struck, the new financial pressures plus the lowest net trust in our government have brought optimism down to 9%<\/span>, the lowest since January 2021.\u00a0<\/span><\/p>\n

VCCP London<\/b>, today launches their latest Collaborative report<\/span> \u2018Hard Times, Strong Brands\u2019. <\/b>The third in a series of papers examining UK segmentation and their comparative responses to the economic downturn, the latest report aims to unveil the human stories behind the national headlines. Revealing what drives consumer behaviours and decisions to not only help brands survive the crisis but to thrive well beyond it. While the pressures of the cost of living crisis are the same for everyone, and the big lessons apply to all, how they relate to different people\u2019s lives, circumstances and the choices they have to make, can be vastly different.\u00a0<\/span><\/p>\n

The report reveals five key lessons for brands to employ while distilling insight from primary research and data analysis to create a UK segmentation fit for the crisis which aims to help brands understand their audience, define their own crisis, and feel inspired to find a role for themselves that builds both consumer equity and brand capital.<\/span><\/p>\n

As creators of cultural output, both the Media and Advertising industries bear a large responsibility to affect change, so in an effort to address these concerns and illuminate some business optimism, senior strategists at<\/span> VCCP London, Ellie Gauci and Jenny Nichols,<\/b> delve into where the opportunities might lie for brands and how these challenging times can become some of the most defining.\u00a0<\/span><\/p>\n

Maslow\u2019s hierarchy would suggest that when times are tough, our functional needs become the priority. But the reality is people\u2019s priorities are much more personal. Despite the fact we\u2019re in an undoubtedly challenging landscape, there is a nationalistic sense of being \u2018in it together\u2019 emerging from all spending groups.<\/span><\/p>\n

Using a unique hybrid research approach using qualitative and quantitative data, the report segments the UK population into four groups, primarily defined by their financial ability and attitude to the crisis. Within these segments, the report examines the top changes being made by each group.\u00a0<\/span><\/p>\n