THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Income tracker reveals falling spending and fears over jobs

Family spending power has fallen again this month and is now £7 less than the same month a year ago, according to the latest Asda income tracking survey.

GENERAL MERCHANDISE

Income tracker reveals falling spending and fears over jobs

Family spending power has fallen again this month and is now £7 less than the same month a year ago, according to the latest Asda income tracking survey.

Although  gross incomes for November  were 2.3% higher than in the same month last year, the cost of essential goods and services rose 3.5% in the period.

According to the Income Tracker, the average UK family was £7 a week worse off in June 2010 compared to a year earlier. This represents the biggest fall in disposable income available to families since the beginning of the year. As a result, the average UK household had £171 a week of discretionary income in May 2010, down from £178 this time last year.June was the sixth consecutive month of decline.

It also found that  one in eight people are worried about losing their jobs in the next six months, with 40% prepared to take a pay cut or reduced hours to avoid unemployment.

Charles Davis, the economist at Cebr who compiles the report for Asda, said the cost of living was rising higher than people’s earnings, with transport costs one of the biggest drivers.

Andy Clarke, Asda CEO, said, “Our customers are telling us that not only do they have less money but many are worried about their job security, and can’t see their finances improving for some time.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The Retail Design Seminar 2018
The Retail Design Seminar 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Seminar 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
AI in Retail Conference 2019
AI in Retail Conference 2019
18 September 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Retail marketing is changing pace rapidly by making communication across all platforms personalised, relevant, efficient, and helpful. AI not only helps shoppers find a perfect product but also pre-empts the shopping behaviour and speeds up payment.
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
Fix The Dinosaur Roundtable 2018
Fix The Dinosaur Roundtable 2018
19 October 2018
The Euston Suite, The Hallam, 44 Hallam St, London W1W 6JJ
A Masterclass in IBMi Legacy Issues