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...
70 comments
Read more

Sagar Daryani, CEO and Co-founder – Wow! Momo & Saga: From a Kiosk to a Kingdom

Sagar Daryani’s entrepreneurial odyssey from humble beginnings to pioneering success has redefined the landscape of food startups in India. Co-founding Wow! Momo, he has spearheaded the growth of the largest indigenous QSR chain in the country, crafting a remarkable saga of triumph The Genesis: A Visionary Venture Takes Root In 2008, armed with a mere Rs. 30,000 and boundless ambition, Sagar Daryani and Binod Homagai embarked on their entrepreneurial journey while still pursuing their graduation in B.Com Hons from St. Xavier’s College, Kolkata, even before their college results were out. They knew the value for money and boot-strapped to plough back profits and grow their venture. Sagar spearheaded brand expansion, brand creation, and marketing and retail operations. Grew across the city with a strong consumer focus. The early days were hard but keeping track of the money flow was even harder. Believing in the concept of ‘1 rupee saved is 5 rupees earned’, and the lessons they lear...
1 comment
Read more

Homegrown ice cream chain HOCCO to open 250 stores, eyes Rs 400 crore by FY26

Ankit Chona, Founder and Managing Director of HOCCO, delves into the company’s revenue model, growth strategies, and vision for the future… Bengaluru: HOCCO (House of Chonas Collaborative) , the Ahmedabad-based ice cream and quick-service restaurant (QSR) chain, boasts a rich legacy spanning over 70 years, with roots tracing back to pre-independence India. The Chona family has been deeply entrenched in the food industry since 1944, originally operating in undivided Pakistan. Following the Partition, Satish Chona , an engineer with British Overseas Airways Corporation, relocated from Karachi to India. After journeying through multiple cities, he ultimately settled in Ahmedabad, where he established his first QSR outlet in 1953. Three decades later, he expanded into the casual dining segment, launching a restaurant in Baroda while continuing the family’s ice cream manufacturing business. However, in 2017, the company sold its ice cream division to a South Korean firm, shifting its fo...
Post a Comment
Read more