August 10, 2012
Trust and fear post-Olympics
A little prediction: sometime in the next couple of weeks, the Proper News will come back from its holiday. As sun tans fade, the Euro Crisis will burn bright again. As that “back to school” feeling kicks in, people will start listening to the news about the global and UK economies again, and they will be fearful with good cause. The Olympic Drug will wear off, and the financial hangover will return in ways that will defy Ibuprofen at any dose.
Fear will be back. So we will turn to brands that we trust to look after our financial affairs.
The market seems to know this. The Post Office is stepping up its mortgage service. As is Tesco. Meanwhile, the so-called “Wealth Management” firms are having to rethink their messaging in an era when many have managed to reduce the wealth of their increasingly anxious clients. In such a climate, cash will feel safer than it really is, and everything else will be hard to buy. It will be interesting to see how the banks respond. It will be interesting to see how financial brands respond. Very interesting.