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!

Blueair launches Blue air purifier in new size for larger rooms

Blueair has launched its brand-new air purifier, the Blue 3610. This compact and colourful air purifier is the newest


Smeg unveils Galileo, a new oven and cooking technology

Smeg said its new cooking technology, Galileo, utilises a variety of cooking functions across the range’s models, making it


Tower to launch its biggest TV campaign

Tower, the small domestic appliances and housewares brand, is to launch its biggest multichannel marketing campaign to-date to promote


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