THE RETAIL BULLETIN - The home of retail news
Click here
Home Page
News Categories
Commentary
CX
Department Stores
Electricals and Tech
Entertainment
Fashion
Food and Drink
General Merchandise
Grocery
Health and Beauty
Home and DIY
Interviews
People Matter
Retail Business Strategy
Property
Retail Solutions
Electricals & Technology
Sports and Leisure
Christmas Ads
Shopping Centres, High Streets & Retail Parks
Uncategorized
Retail Events
People in Retail Awards 2024
Retail HR Summit
THE Retail Conference
Retail HR North 2025
Retail Ecom North
Omnichannel Futures 2025
Retail HR Central 2025
The Future of The High Street 2025
Retail Ecom Central
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Consumer confidence declines in January

Consumer confidence has dropped in January as it continues to bump along at near-record lows. According to GfK, its long-running Consumer Confidence Index has fallen by… View Article

GENERAL MERCHANDISE NEWS

Consumer confidence declines in January

Consumer confidence has dropped in January as it continues to bump along at near-record lows.

According to GfK, its long-running Consumer Confidence Index has fallen by three points this month to -45.

Joe Staton, client strategy director, GfK said: “After a short-lived and weak rally in Q4 last year, UK consumer confidence has slipped to -45 in January. Consumers have a New Year hangover – but it’s of the economic kind – with high levels of pessimism over the state of the wider economy. And unlike a conventional hangover, this one won’t vanish quickly.”

GfK’s index measuring expectations for the general economic situation over the next 12 months has fallen by one point to -54 this month, although the forecast for people’s personal finances has increased by two points to -27.

Meanwhile, GfK’s major purchase index is down six points to -40, which is 30 points lower than January last year.

Staton said: “This month’s six-point decline in the major purchase index does not augur well because consumer spending is a driving force of our economy and future growth. With inflation continuing to swallow up pay rises, and the prospect of some shocking energy bills landing soon, the forecast for consumer confidence this year is not looking good. One thing we can be sure of is that 2023 promises to be a bumpy ride.”

Subscribe For Retail News