Nest State of the Market Q&A with Ian Whittaker
“I expect to see an increasing polarisation of the consumer this year.
Although overall consumer confidence looks gloomy in the UK, these figures are very much averages. Wealthy consumers will continue to do well, driven by a combination of higher asset values and wage inflation amongst the professional classes, while the government is likely to step in to support lower-income consumers who have been more impacted by inflation.
Now is actually a really good time to invest when it comes to marketing. At the moment, consumers are a lot more willing to accept price increases than they were in the past. Meanwhile, in an environment where consumer behaviour is fluid and open to change, there is a potential risk that brands who cut back will lose ground.”
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