As a business are you equipped to identify consumers who may be vulnerable, because of their situation or the marketplace?

Consumer vulnerability has changed!

There are complex reasons why a consumer may find themselves in a vulnerable situation. While it can still originate from a long-term personal circumstance (mental or physical disability for example), vulnerability is now recognised as being far more fluid.

Consumers can easily move in and out of periods of situational vulnerability, and their capacity to make the right choices can be compromised. For instance, periods of illness, social isolation, bereavement, financial instability, mental health or relationship changes (to name but a few) can all make consumers vulnerable.  Add to this the COVID-19 pandemic the cost of living, politically instability, inflation plus several other external situations all of which have a major impact.

The change in marketplaces has provided a further opportunity for consumers to be made vulnerable.  For example, moving from the high street to online shopping (moving from ‘bricks to clicks’) has exacerbated the situation. Inexperience and a lack of familiarity with marketplaces (green products), shopping safely online and technology changes has led to many new ways for consumers to potentially not get the best deal or fall victim to a crime.

Whatever the reason for the vulnerability, businesses need to understand the issues behind it and then to spot the consumers who may be at risk. Businesses should be training their staff and putting in place policies and procedures to allow for effective support for consumers. 

Inclusive design is key.  Design all products and services to cater for all consumer vulnerability and everyone will benefit.  Consumer Friend can help with all your business needs in this space.  For more information or a chat, please email info@consumerfriend.org.uk.