In an age of mass differentiation and low cost chic, there has never being a worse time to be stuck in the middle. Consumers are abandoning mid-range products in their droves, often opting for cheaper alternatives and saving up to buy the occasional luxury. At one end of the scale thrifty customers are cutting costs by buying supermarket own brand goods, whilst at the other end easy access to credit makes it possible to trade up to a BMW rather than settle for a Ford Mondeo.
The Low Cost Revolution
Throughout numerous consumer sectors, there are companies specialising in low cost goods and services. Everything from food to flights and cars to clothes can be bought at very low prices. As cost-focussed companies get bigger, they continue to find ways to reduce overheads in their operations and squeeze suppliers for better deals. Consumers are also changing their attitudes to low cost goods. Film stars and fashion models are setting the trend of low-cost chic, happy to wear value clothes alongside their premium brands.
However the low-cost sector is largely driven by economics. Increases in living expenses, debt and taxation are stretching the purse...
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