2008 is proving to be a challenging year, both for consumers and for businesses. This time last year, few consumers had heard of the term 'credit crunchb' let alone 'collateralised debt obligations', although both are now regularly making headlines in the popular press.

There is no doubt about it that consumers are under pressure from spiralling price rises and are confused about what actions they should be taking to protect their lifestyles, let alone how to deal with all the information they are being bombarded with on how we lead a greener and healthier life, to curb our appetite for carbs and carbon.

So what are British consumers spending their money on in 2008? The picture is still hazy and consumers are more cautious and are tightening their purse strings, although the news is not all bad. There are winners and losers in every sector – although companies are having to work harder to win a share of wallet.

Consumer spending accounts for over two thirds of UK GDP. It is therefore vital that consumers continue to spend, to support the economy, to stave off the risk of recession, whilst also paying off debt.

If your company could benefit from a briefing to help you to understand how consumer behaviour and spending patterns are changing and how to develop new business opportunities through a better understanding of key trends, please contact Helen Osman, Mintel Research Consultancy, 020 7778 7108, hosman@mintel.com

Alternatively use the enquiry form to contact us. We would be happy to discuss and advise how your research brief can best be addressed.