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Will the recession change UK consumers forever?

When the boss of supermarket chain ASDA suggests that the UK consumer of today is about to change forever maybe it is time to wake up and listen. There would appear to be a number of arguments in favour of this view as consumers look to take advantage of more and more discounts on the high street and become more aggressive in their spending habits. Historically the UK has been fairly expensive compared to its European counterparts although the Internet has brought much of this information into the public domain and ruffled quite a few feathers.

Many believe that the online shopping revolution, which started some years ago, is set to move to new levels as spending is forecast to mushroom online. This could see fewer shops on the high street fighting for fewer consumers and reduced profit margins in the process. However, many people have forecast the demise of the UK high street over the last few years although up until now these calls have been very premature.

There is no doubt that online transactions are increasing at a substantial rate and online competition is putting more and more pressure on off-line prices. Businesses with no online presence are likely to suffer in the medium to longer term as UK shopping habits continue to develop.

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