Skip to main content

January consumer confidence given a “Boris bounce”

// GfK’s long-running Consumer Confidence Index has increased two points to –9 for January
// Four measures used to determine the overall index increased, while one measure decreased
// However, the January index means it has remained in negative territory for the past four years

Consumers enjoyed a small “Boris-bounce” following the Conservatives’ landslide General Election victory last month, according to a long-running survey.

GfK’s Consumer Confidence Index rose two points to -9 in January, but it means the data has remained in negative territory for the past four years.

The two-point rise was also slower than the three-point rise between November and December, GfK added.

READ MORE:

“The first month of 2020 has given us a mini Boris bounce, with a two-point increase,” GfK client strategy director Joe Staton said.

“While January marks four years of the index failing to penetrate positive territory, we now have two consecutive months of improvement.

“This is good news. The latest measures concerning our personal financial situation for the last and next 12 months are encouragingly healthy and positive, as is the improvement in our view of the wider economic picture for the UK.”

Consumer confidence given "Boris bounce" but year ahead looks shaky

Four of the measures GfK used to determine the overall index increased, while one measure decreased.

The measure for the personal financial situation over the last 12 months was at 1 – compared with -3 in December.

Looking ahead for the next year, the index recorded a positive 6 points, up three points on last month.

Staton also pointed out this was due to the rise in jobs and tentatively improving housing market, alongside low inflation and interest rates.

However, shoppers are still holding off making big ticket purchases, such as washing machines, fridges and sofas, waiting for further certainty.

He added the overall index is expected to return to positive territory later this year, with expectations for the general economic situation over the next 12 months moving from -27 to minus -24.

In January 2019 it was as high as -39.

Consumer confidence given "Boris bounce" but year ahead looks shaky

with PA Wires

Click here to sign up to Retail Gazette‘s free daily email newsletter

The post January consumer confidence given a “Boris bounce” appeared first on Retail Gazette.



from Retail Gazette https://ift.tt/2uMbdgK
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

Eagle Labs launches impirica CBD brand

ST. PETERSBURG, Fla. — Eagle Labs has launched impirica, a new brand of CBD intended to eliminate consumer fear, and increase confidence, in trying the exciting new cannabidiol category. Michael Law Although most Americans have now heard about CBD, many are very confused and concerned about product quality. This is inhibiting trial in the category and holding back conversion into sales. In fact, a 2017 study by Johns Hopkins University found that two out of three CBD products on the shelf did not contain the amount of CBD reflected on the label. Furthermore, in 2018 and 2019, the FDA sent notices to a substantial number of CBD manufacturers advising them of serious concerns about product quality or egregious medical claims. The impirica brand looks different than most CBD brands — the brand name itself connotes testing and trust, says Eagle Labs chief commercial officer Michael Law. “It doesn’t use the traditional category colors of browns and greens, and you won’t find a hemp...
68 comments
Read more

Coronavirus Recovery: Canadian Small Businesses Must Focus on Easing Employee, Customer Fears

By M. Tina Dacin and Laura Rees A small business has been  given the green light to reopen amid the COVID-19 pandemic . What does it need to consider for employees and customers? Small business owners are reorganizing physical space to account for continued distancing requirements and rethinking supply chains to deliver products and services in new ways to meet changing demand patterns. But they must not forget the hearts and minds of employees and customers. That doesn’t mean replacing a focus on the bottom line, but it helps address the need for a new set of expectations and ways of communicating in terms of product or service offerings, delivery methods and real-time feedback. Based on our expertise in organizational behaviour and past research we’ve conducted, we provide a set of recommendations to help small businesses thrive in our new COVID-19 economy by looking after the hearts and minds of the people most important to businesses — employees and customers. Fear, Anxi...
1 comment
Read more

World's 1st Pizza Subscription Service Launches in Toronto

general assembly subscription user opening delivery box of pizza. photo: general assembly pizza By Mario Toneguzzi Toronto-based General Assembly Pizza has launched what it describes as the world’s first pizza subscription service as it also plans to aggressively expand its product offering in the near future by opening a new concept in the market. "Since opening our doors in 2017, we have pushed for the best guest-experience possible — that's why our dough is 100 percent naturally leavened, that's why we have a purpose-built 400-square-foot pick-up and delivery area, and that's why we’ve launched a direct-to-consumer subscription-based ecommerce platform,” said Founder & CEO Ali Khan Lalani. “In 2020, providing the best guest experience means General Assembly Pizza has to be more than a restaurant. I'm proud to say that after almost six months of planning, many roadblocks, and countless pivots — all while maintaining our day-to-day restaurant operatio...
1 comment
Read more