Get ready for the ‘new normal’

In the recession people are turning to cheaper products, and often finding that they are as good as, or even better than, the more expensive versions (example: Aldi and Lidl, the discount stores).

Get ready for the 'new normal'

Adrian Ryans

'Credit crunch', 'downturn', 'recession', 'unemployment' – open a newspaper today and these are the words that leap off the page. When cash is tight, people and companies are only too happy to turn to cheaper alternatives. Firms with a strong brand are somewhat protected, but it is becoming clear that, in many sectors, people and companies are willing to give up well-known brands and premium quality for 'good enough' quality and lower prices. In many industries, low-cost competitors are winning, while their traditional rivals are sailing on very turbulent seas.

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