We have recently been looking at the issue of vulnerability in research and consultation. The most fundamental question to begin with is why does this matter?
We can’t say it any better than the FCA in their occasional paper which makes the clear point that:
“Much consumer protection legislation is underpinned by the notion of the average or typical consumer… However, consumers in vulnerable circumstances may be significantly less able to represent their own interests, and more likely to suffer harm than the average consumer. Regulators and firms need to ensure these consumers are adequately protected.”
The paper then goes on to share some key facts about the scale of consumer vulnerability in this infographic below, which we feel really outlines why it matters.
You can download the paper to find out more. How well does your organisation consider the needs of its vulnerable audiences?