StrappedUK is a segmentation system dedicated to examining and categorising households across the United Kingdom amidst the ongoing cost of living crisis. Within this analysis, StrappedUK identifies 14 distinct segments, shedding light on the diverse financial challenges confronting households and their relationship with finance.
About StrappedUK
Based on how much each group has seen their living costs increase and their ability to pay, the segments are characterised by two scores: a Stress Score and an Increase Cost Score.
The Cost of Living Crisis
The cost of living crisis is not just a matter of rising numbers; it's reshaping the very fabric of how people navigate their financial lives. From groceries to housing, every aspect of daily expenses seems to be on an upward trajectory, leaving individuals and families alike grappling with the strain on their budgets.
StrappedUK, is an initiative that delves deep into the complexities of these rising costs. Rather than simply acknowledging the problem, StrappedUK categorises individuals into 14 distinct segments, analysing the extent to which their living expenses have surged and assessing their ability to cope with these changes.
Through this nuanced segmentation, StrappedUK not only sheds light on the diverse ways in which people are impacted by the cost of living crisis but also provides invaluable insights into how different demographics are adapting to these challenges