Design Week asked our us how the cost of living crisis is affecting designers and studios, and Creative Director Chris Skelton gave his view.
In April, UK inflation rose to 9%, the highest rate in 40 years. The rising price of gas, electricity, food and raw materials are all adding pressure to households and businesses.
We speak to a range of designers about how the cost of living crisis is affecting their work – from a change in client briefs to finding cheaper studio space.
Chris Skelton, Creative Director of Thompson, commented:
“Lots of studios have struggled throughout COVID, and for those still not quite back on their feet, high energy prices may force the decision to close their office space and go fully remote. Fuel cost may cause more people to question travelling in; despite many studios’ desire to start having more facetime with clients, video will remain a mainstay.
“The cost of living has the potential to delay things like salary increases for staff that may have been on hold, something we’ve been keen to address recently by reviewing pay across the board. Economic concern may also perpetuate worries over job security, making recruitment for top talent even tougher than it already is. This could force margins to be squeezed due to a higher reliance on freelance – the cost of which we’ve already seen increase.”
The article also commented:
Many of the designers echo Skelton’s point about the higher cost of running studios. Blond’s Ewan Alston adds that a relocation might be on the cards for city-based studios looking for better value.
He explains: “We imagine the crisis could be an influence in more studios moving away from expensive inner-city locations towards areas further out where rent is cheaper and more space can be found, especially as there is less and less need for face-to-face meetings with clients these days. In fact, Blond is considering one such move ourselves.”