blogs.fco.gov.uk — Clearly, in the current financial climate, people are increasingly feeling the pinch created by a global economy in crisis. The post examines and recognises the tendency for consumers to buy domestically, and to pay a premium for it. Is this attitude likely to continue into the future, or will people instead buy cheaper products from abroad?
Sep 27, 2008 View in Crawl 4
thelovablerogueSep 27, 2008Submitter
I found this blog after hearing that the FCO are actively employing blogging as a means of reaching out to the general public. I thought the article was interesting; traditionally people are happy to pay a premium price for domestic products based on the assumption that it helps protect the local economy. As people become ever more cautious about how their money is spent, I imagine that the majority of purchase decisions will instead be influenced in the main by price. It is becoming less likely that consumers will pay a premium for these products simply because they are locally sourced. As consumers buy fewer domestically produced products, surely this is likely to hit the economy further, by a reduction in domestic jobs.