Essay: The Recession Factor

Sample Essay

Researchers are witnessing a downturn in the landscape of the economy. At the same time they also witness the altering behavior of numerous UK consumers especially students, who are consequently practicing to live without expensive products (Bennett and Rundle-Thiele 2004). Numerous companies are anticipating a downfall in their sales due to students buying behavior recoiling in the wake of the recession.

The sellers are disappointed as on an average 18% of consumers preferred to buy cheaper brands in the last two years (Regional and State Unemployment 2008). Of the students who were interviewed on their behavior of switching inexpensive products, 46% confirmed that their performance was better than they anticipated earlier (Gross domestic product: Fourth quarter 2008, 2009). Moreover, 34% of these interviewees said that they do not prefer expensive products anymore and additionally 41% informed that they preferred the premium brand but on using alternate products they believe it was not worth the money they spent (Patton 2002).

As a result, a rising figure of customers is now in anticipation. The proportion up for capturing the trend differ according to the class and depends on how many student consumers toggle from expensive to inexpensive brands, and the way they amend their buying intentions.

Moral expenditure levels where the customer opts for products which are fairly traded and locally produced are seen declining in the period before the recession as they are more expensive. In this particular period after the recession, the student consumers are trying to create a balance in their purchasing power and spending patterns by setting a priority to their needs and wants.

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