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Industry News

Published on December 22nd, 2020 | by The GC Team

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Vaccine approval drives UK consumer confidence

Consumer confidence increased by seven points in December following approval of the Covid-19 vaccine, marking the strongest improvement in eight years.

The rise from -33 in November to -26 in December was driven by a 15-point jump in consumer views on the future economy, registering a change in scale not seen since April/May 2011.

All five Index measures increased in comparison to the previous month, with renewed expectations on personal finances and an impressive six-point rise in the Major Purchase Index spelling good news for retailers, particularly those operating online or with the facility to support customers during the changing virus restrictions.

Joe Staton, client strategy director at GfK, said: “It’s safe to say that consumers are looking for good news and they have found it in the form of the UK’s Covid-19 vaccination programme getting underway, which has lifted the mood pre-Christmas 2020.”

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