The financial crisis of 2008 – and subsequent global economic downturn – was the worst recession since the the ‘30s. The ensuing trauma left deep scars on people’s shopping habits – even for those who weren’t hit so hard. While discounters in the US are growing at more than twice the rate of regular apparel brands, studies suggest that British spending habits were also permanently altered by the crisis.

As own brand products have evolved from simply ‘cheap’ options into desirable and competitive goods, those who couldn’t afford to buy anything else have been joined by people from all backgrounds. How is this embrace of private labels changing Britons’ sense of loyalty to traditional brands?

British supermarket giant Tesco has launched Jack’s, a discount store named after the brand’s founder, to rival European supermarkets Aldi and Lidl. The stores will focus on low price, own-brand British produce, offering customers on a budget the satisfaction of buying into a 'heritage' brand.

With high student debt, low wages and worries about how to save for the future, Gen Yers are losing interest in material goods, and becoming more frugal. They’re not impressed by luxury labels or expensive cars – in fact, they’re irritated by people who are flashy with their cash.