{"id":20165,"date":"2022-11-16T08:00:23","date_gmt":"2022-11-16T08:00:23","guid":{"rendered":"https:\/\/www.goodhomesmagazine.com\/?p=20165"},"modified":"2022-11-16T16:54:23","modified_gmt":"2022-11-16T16:54:23","slug":"how-we-live-now","status":"publish","type":"post","link":"https:\/\/www.goodhomesmagazine.com\/news\/how-we-live-now\/","title":{"rendered":"Covid, cost of living & coffee grinders: John Lewis examines how we live now"},"content":{"rendered":"

As we approach the end of the year, it’s time for a moment of reflection. John Lewis & Partners has launched its annual report assessing how we live now, exploring the changing habits of Britain\u2019s shoppers over the last 18 months.<\/p>\n

The How We Shop, Live and Look in 2022 report, released in September, includes data from a 5,000 person survey, analysis of the shopping habits of millions of John Lewis customers, social media analysis of over 20 million data-points, qualitative research with customers, and interviews with world-renowned experts in economics, psychology, health, home, family and lifestyle.<\/p>\n

And what it all comes down to, essentially, is that we’re starting to embrace a ‘Moments Economy’. What’s that? It’s an evolution of the Experience Economy where, from the late 1990s, we started to prioritise spending on experiences like travel over material possessions.<\/p>\n

The Moments Economy is about experiences on a smaller scale. Rather than an expensive holiday, we’re more likely to look for the joy in the everyday, like elevating a tea break from a cuppa and a biscuit to time spent with friends, family or colleagues over a slice of cake.<\/p>

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Take a moment. Photo: John Lewis<\/p><\/div>\n

Why have we changed the way we live?<\/h2>\n

As usual with cultural shifts, there are multiple factors behind it. The desire for more ‘real’ moments in an increasingly digital world, the impact of Covid, and the cost of living crisis have all played a part. The global pandemic reminded us how precious time spent with friends and family should be, while the cost of living crisis has forced us to be more creative in the ways we seek joy.<\/p>\n

The majority of respondents to the John Lewis survey (72%) said that they don\u2019t need to spend a lot of money to make them happy \u2013 in the coming year, more people plan to invest in quality time at home with family and friends (50%) than big days out (38%). Four in 10 people have held a dinner party<\/a> in the last 12 months, and six in 10 say they want to host more in future.<\/p>\n

‘What matters more is what you do, not what you own,’ says British economist Professor Lord Layard, who attributes the emergence of the Moments Economy to ‘an increase in stress worldwide, of sadness and worry’. His research shows that life is best lived ‘as it comes’, and that the happiest among us ‘enjoy the simple things’.<\/p>\n