2020-04-01 REPIC 468×60 header

Industry News

Published on September 30th, 2020 | by The GC Team


Confident consumers intent on spending

Adverse economic headwinds, the threat of a second lockdown and concerns arising about a potential no-deal Brexit have done little so far to dampen steadying consumer confidence in the UK, which has inched forward for nearly four months in a row.

GfK’s Consumer Confidence Index increased two points month-on-month to -25 in September – a remarkable recovery from the near-historic low of -36 in the researcher’s early June ‘flash’ report.  

Confidence in the general economic situation over the next 12 months and consumers’ appetite for major purchases were the biggest winners, both rising four points to -38 and -21 respectively.

Looking ahead over the rest of 2020 and beyond, Joe Staton, Client Strategy Director GfK, says we should keep an eye on the personal finance measure for the coming year and the major purchase intentions of consumers.  “These reflect how much we intend to spend, shop or invest – all vital considerations for retailers as we enter the ‘golden quarter’ in the run-up to Christmas.”

Staton added, however, that consumers are “jittery” as stock markets and the UK government put the brakes back on – “and there may be more to come.”

His conclusion: “Only an unbridled optimist will bet on confidence climbing further.”

Tags: ,

About the Author


Get Connected is the top trade journal for the UK electricals industry. Its website is the fastest, most interesting and up to date in the business.

Leave a Reply

Your email address will not be published. Required fields are marked *

2 × 5 =

Back to Top ↑

By clicking "Subscribe", you agree with our terms:
Mud Hut Publishing Ltd will use the information you provide on this form to be in touch with you with relevant news and content. You can change your mind at any time by clicking the unsubscribe link in the footer of any email you receive from us, or by contacting us at info@gcmagazine.co.uk. We will treat your information with respect. For more information please view our privacy policy.
Stay connected with GC’s regular news updates...