What We Think
What’s happened this week:
- AT&T released a connected home security product, illustrating how Digital technologies are allowing brands to extend into previously unrelated sectors.
- New TV formats were announced that cross traditional media boundaries;
- Facebook bought Parse, a cloud based mobile backend, whilst Google bought Wavii a natural language engine to turn content into data.
Comic Relief celebrated its 25th anniversary telethon which not only raised a record £75 million in donations but also proved a hit with the television audience on the night.
Overnight figures show that a peak audience of 12 million individuals tuned in to watch the extravaganza at 9pm, reaching 40.6% of the audience.
We are in the longest economic slump this side of the Second World War, but is it changing the way we behave as consumers and think as a nation?
It has been five years since queues formed outside branches of Northern Rock as it sought emergency funding – a year and a day later Lehman Brothers was allowed to collapse and the world changed forever. Or did it?
That things changed is undeniable. In the immediate aftermath of the downturn a number of reactions were witnessed, from the subtle to the glaringly obvious. Custard sales went through the roof as people sought refuge in nostalgia. The savings ratio has steadily improved as consumers act sensibly and remove themselves from risk. Frugal chic has entered the vocabulary and consumers wallets and inboxes are stuffed full of vouchers to use at discount grocers.