Fast goods for fast lifestyles
Working the longest hours in Europe has turned the British into ‘convenience seekers' demanding consumer goods to fit their hectic lifestyles. Consumers who are too tired, or have too little time, to cook are turning more and more to convenience foods, which have seen a 68% increase in sales since 1992 (current prices) compared with a 33% growth of the food market overall. Sales of analgesics (pain relief remedies) increased by 50% in real terms over the same period. Some analysts have interpreted this as a trend for self-medication and self-diagnosis by people too busy to consult a doctor. Retailers are cashing in by offering ‘fast fashion' for women who want to make fast purchasing decisions and update their wardrobe more often. There is a similar trend in tourism where pressures of work and longer hours force holidaymakers to take more short breaks. UK residents took over 39 million holidays abroad in 2001, with Spain the most popular destination (26% of holidays abroad). Spending on airfares has increased by 57% over the last 10 years.
Question
1. Identify other likely winners and losers from the trends in this case study.