Marketing Week tackles a dilemma facing many brands as the economy continues its downward slide. In the aftermath of ‘Armageddon autumn’ will consumers cut the froth this Christmas and save their pennies, or turn to luxury brands to cheer themselves up?

It’s probably too early to tell which way the pendulum will swing in the long term, but the indications so far incline more towards thrift than extravagance.

Business are warned they can’t afford to stand still in a recession, in a comment piece in Precision Marketing.

“If you don’t do any marketing,” says Tony Spong of agency selection company AAR, “you’re dead.”