The whitepaper is full of helpful insights to guide brands on how consumers are spending money in the Cost of Living Crisis
Curated has released its 2024 Essential Spending report – Navigating the New Normal at the Cost of Living Crossroads.
With the UK currently in the middle of a battle with the cost of living crisis, the Curated team thought it was time to look into consumers with a Spending Series.
Developed to deep dive into the changing habits towards spending, both essential and expendable – and this new report hones in on essential spending within the UK.
Essential Spending 2024: Navigating the New Normal at the Cost of Living Crossroads has been created to help brands engage authentically with consumers whilst understanding and engaging with daily experiences – with this approach creating lasting relationships in a world where budgets are slashed.
The data has come from a survey of 300 participants, carried out by Curated themselves. Questions were aimed at understanding the surge in energy bills, housing costs, groceries, transportation, and basic house maintenance costs and how they have effected spending behaviour.
Daily people face tough choices, sacrificing comforts to stretch their dwindling budgets – recognising and addressing these struggles builds empathy
Jake Cawdery
The whitepaper explores topics such as:
- Changes and fluctuations in income and the impact this has had on confidence, mood & wellbeing
- Budgeting in the cost of living crisis
- Employment and sources of income, including use of short-term debt
- Escalating expenses in housing
- Priority bills
- Spending patterns in food and grocery
- Travel plans and budgeting
- Secondary income and side hustle culture
- Mood and attitude towards social and economic changes and policies
Jake Cawdery, Managing Director said: “Curated empowers brands to excel by mastering the art of engaging with their consumers. Our brand partners thrive by not only delivering exceptional products and services but also by deeply understanding the rhythms of their customer’ lives.
“This white paper is a heartfelt invitation to engage more deeply. You’ll find insights that highlight the need for resilience amongst the true hardship and challenges your consumers face as the cost of living crisis continues to rise.
“Daily people face tough choices, sacrificing comforts to stretch their dwindling budgets. Recognising and addressing these struggles builds empathy, transforming customer perceptions and fostering deep, emotions connections beyond transactional interactions.”
You can download Essential Spending 2024: Navigating the New Normal at the Cost of Living Crossroads here.
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