THE RETAIL BULLETIN - The home of retail news
Click here
Home Page
News Categories
Commentary
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
Retail Events
People in Retail Awards 2024
Omnichannel Futures 2024
Retail HR Central 2024
The Future of The High Street 2024
Retail HR Summit
THE Retail Conference
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Consumer confidence improves in November

Consumer confidence has improved in November despite people’s ongoing concerns about the cost of living. GfK’s latest Consumer Confidence index has risen by six points in the… View Article

GENERAL MERCHANDISE NEWS

Consumer confidence improves in November

Consumer confidence has improved in November despite people’s ongoing concerns about the cost of living.

GfK’s latest Consumer Confidence index has risen by six points in the month to -24. This compares to a nine-point decline in October.

While the firm’s sub-measure for the forecast for personal finances over the next 12 months has improved by five points to -3, the measure for expectations for the general economic situation for the same period has grown by six points to -26.

Joe Staton, client strategy director GfK, said: “Consumer confidence strengthened in November with improvements across all measures. Recent ups and downs in confidence have underlined the nation’s topsy-turvy economic mood as encouraging news about falling inflation and wage growth is offset by high personal taxation, alongside costly fuel and energy bills.

“Although the overall index score is still tracking firmly in negative territory, it is good to see that consumers are more optimistic about their personal financial situation. This shows people are thinking about their future with increased confidence and willingness to look beyond the short-term.”

Meanwhile, the major purchase index is up 10 points to -24 this month which is 14 points higher than this time last year.

Staton added: “The dramatic 10-point jump in our major purchase sub-measure, reversing some of the worrying 14-point drop we saw last month, will be good news for retailers looking to benefit from Black Friday and Christmas.

“Despite the acute cost-of-living pressures, many would still like to loosen their purse strings just a little so they can enjoy that feel-good factor we all associate with the festive season.”

Subscribe For Retail News