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Are disappointing consumer spending figures down to the media?

NOTE: This content is old - Published: Monday, Jan 23rd, 2012.

Watching the news and being told about the EU financial crisis, about the problems here in the UK and the economic slowdown in China, I started thinking when has there been a news broadcast over the past 12 months or so without mention of the economy?!

For the most part it is all doom and gloom too; people have got control of their spending and don’t have as much disposable income as in the past, businesses are cutting costs and the overall mentality centres on austerity. But is that mentality the source of the real issue – the fact that we as consumers are constantly bombarded with pessimistic outlooks, that the crisis will continue for years not months. We can be forgiven for thinking we probably should not even leave the house let alone spend any hard earned money!!

So let’s take a hypothetical situation – the media decides to try and instil optimism and consumer confidence. They begin to say that things are not as bad as was first thought and that people should not be as cautious as they have been. Is that likely to see an overhaul in people’s attitudes though? Perhaps times of austerity and cost cutting have more of a lasting impact on those involved. Put simply, should we believe news broadcasts as much as we do?

Analysing issues on a national level does naturally make things seem less achievable. So how do things look at a local level? Wrexham has gone through a number of changes as with any other town; High Street stores have disappeared and have made way to some pop up shops but also some independent retailers too. Independent retailers = more identity = more appealing destination for tourists. Perhaps we are not and will not be a boom town but a slight change in attitude might move us in the right direction before anyone else.

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