BR Video: 'Don't panic' says public on credit crunch

LONDON - The public is finding it hard to know which brands to trust in the credit crunch, but as the media works itself into a gloomy frenzy the overriding feeling is "don't panic", according to the latest Brand Republic video -- watch it now.

Brand Republic took to the streets and found that some members of the public are opting for the big banks as the best place to keep their money, while others think that nowhere is safe.

However they were all agreed that the best advice is to save money, tighten your belt and follow Corporal Jones's advice to Captain Mainwaring in the British comedy classic ' 'Dad's Army': "Don't panic Mr Mainwaring, don't panic".

Consumers also appear to be taking the view that certain financial brands, those that are not making the headlines are a safer bet, including HSBC, NatWest and Abbey.

Consumer attitudes also appear to be chiming with a report from online research firm Hitwise, which found that the recent round of bank nationalisations and stock market fluctuations has led consumers to turn to the internet to help deal with financial pressures.

Hitwise, which monitors the online habits of more than 8m UK consumers, found that growing numbers are using the internet to visit price-comparison sites, download discount vouchers and keep up to date with financial news.

Consumers told Brand Republic that they were increasingly rejecting expensive brands in favour of value ranges from Tesco as well as opting for retailers such as Poundland.

BBC business editor Robert Peston has also benefited from the credit crunch, becoming a household name thanks to his financial coverage and widely read blog on the BBC's Business page.