19 Mar 10

Can garlic bread be the thrifty times indicator?

‘Show us your shopping trolley and we’ll tell you what the state of the economy is’ that’s how ONS basket works.

It contains about 650 goods and services on which people typically spend their money. The majority of goods remain constant year on year but there are some adjustments made every year due to changing consumer habits.

According to the latest report on Britain’s shopping habits garlic bread as well as fish fingers celebrate their comeback to the typical shopping basket in the financially unstable times. Apparently regression to the 80s is also visible in the makeup preferences as according to the Office for National Statistics lip gloss widely replacing lipstick becomes another inflationary marker.

We are not completely retro however! There are still quiet few products in the ONS basket proving that we absorb novelties quiet well.

On the entertainment front, newly added computer games and accessories are the indicators of increasing popularity of entertainment consoles. Disposable cameras are getting replaced by digital ones. And even though we said goodbye to lipstick we are still quiet conscious about the beauty as tongs and straighteners lead a way in the hair department replacing hairdryers.

ONS basket is not only a reflection of the economic situation but also very interesting way of gaining insights on how we live today. It’s a fascinating mixture of old habits and new inventions. Makes you ask what we’ll be chucking to the same trolley in the next few years.

Source:
http://www.guardian.co.uk/business/2010/mar/15/uk-inflation-recession-new-goods