The feel good factor

In Industry News On

My grandmother believed that tough times have a good side in the sense that they impose certain financial discipline on people who otherwise would never learn to behave in a financially responsible manner. These lessons often stay with them for life, she said.
Ernst & Young in its Annual Discretionary Income Study has recently reported that people’s disposable incomes have fallen to their lowest for five years. After household bills and tax, the typical family has less than 19.96% of its gross income left to spend on non-essentials, compared with 28.38% in 2003. This definitely gives a feel for how difficult times are ahead of us, if they are not already upon us.
Meanwhile, I listened to a radio interview with a so-called shopping advisor who stated that in tough times more than ever consumers want to feel good parting with their cash, and to be certain that they have made a right decision. If shopping was only about parting with money in exchange for goods we all would have become Internet shoppers. The ‘feel good factor’ is so closely linked to good retail advice that she predicted a return of good old-fashion service, with its value rising significantly.
Coincidentally, the head of Alphason, Chris Emmerson, has told me recently that it is during times of economic downturn when the independent shows what he is best at – adding value to the products he sells. I also think that the independent is in the best position to dispense this ‘feel good’ factor during a recession.

You may also read!

PJH launches new Prima appliances, sink & tap collection

PJH is has launched a new appliances, sink & tap Collection for Prima, a brand exclusive to the distributor. Known


IFA under new dual leadership

One hundred days before IFA 2022 opens its doors, Messe Berlin has appointed David Ruetz and Kai Mangelberger as


£100 gift voucher for independents at Exclusively

Independent retailers interested in visiting this year’s live Exclusively Show, at The Business Design Centre, Islington on June 14-15


Mobile Sliding Menu

©2021 Innovative Electrical Retailing. Datateam Business Media Limited. All rights reserved.
Registered in England No: 1771113. VAT No: 834 8567 90.
Registered Office: 15a London Road, Maidstone, Kent ME16 8LY