There are a few lessons we can take from the myriad of case studies that emerged from the 2008 recession.
1. Shoppers don't want to compromise. They'll look for ways to keep the lifestyle they've become accustomed to. For example in the 2008 recession Netflix helped consumers to retain their in home entertainment by replacing their relatively expensive video rentals and cable subscriptions with DVD delivery and an early streaming service. (Source: Netflix Defies Recession).
Shoppers are already starting to do this in the UK. According to Kantar L12W data to 15 May 2022, the only retailers in growth are Aldi & Lidl. Combined, they're now bigger than Sainsbury's, and in Food & Drink Aldi is now the 4th largest retailer ahead of Morrisons. They’ve just joined Kantar’s Brandz top 100 too.