In the UK, online market research agency YouGov has designed a new platform to provide insight into how consumers are responding to the adverse economic conditions.
The Recession Tracker will enable UK businesses to identify trends and understand changes in consumer confidence and spending behaviour during the credit crunch. It will also report on lifestyle shifts resulting from the economic decline, such as those relating to thrift and resourcefulness.
Daily data is gathered from 2,000 online interviews conducted with the firm’s nationwide panel members. This will be supplemented by feedback gathered through a range of forums and surveys, which will aim to find out how consumers are thinking and behaving on a range of issues. Quotes, pictures and videos will also be uploaded onto the platform.
‘The changing economic climate and unprecedented upheavals in the financial sector are prompting us all to reassess how we live,’ explained CEO Tim Britton. ‘With the launch of The Recession Tracker we aim to provide companies with the visibility they need on the constantly changing behaviour of consumers under pressure.’
YouGov was launched in 2000, and now has a network with panels in over thirty countries. Yesterday, the firm announced its intention to bring together all its solely-owned international operations under the YouGov brand.
