A report in The Observer this weekend said everything in a graph...
As the chart shows, it is very rare for real wages in the UK to fall continually over a seven-year period. They have done so only three times in the past 150 years: after a deep recession in the late 19th century; in the 1930s, following the Great Depression; and again in the past seven years, the steepest fall in 150 years....
Given that in these circumstances, governments, banks and individuals have been paying down debt, it should be no surprise that very little spending money has trickled onto the market...
And given the extent of the fall in real wages, politicians' promises of an immediate upturn need treating with caution..
In other words, best to forecast product/brand growth at the expense of the competition, if you can...
While others await a return to 'normal'....
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