Fieldwork conducted on 04-07 March
2025
According to BRC-Opinium data, consumer expectations
over the next three months of:
-
The state of the economy improved slightly to
-35 in March, up from -37 in February.
-
Their personal financial situation improved
slightly to -10 in March, up from -11 in February.
-
Their personal spending on retail rose to 0 in
March, up from -5 in February.
-
Their personal spending overall rose to +11 in
March, up from +4 in February.
-
Their personal saving fell to -5 in March,
down from -3 in February.
Helen Dickinson, Chief Executive of the British Retail
Consortium, said:
“Consumer confidence stabilised this month after February's
record low. This was coupled with an increase in spending
expectations for the three months ahead, both for retail spending
and spending more generally. Within retail, spending expectations
for DIY and home improvements moved into positive territory for
the first time. Across all categories, Gen Z (18-27) expected to
spend more than the previous 3 months in every category, while
Gen X (44-59) planned the biggest cuts to spending for most
items, excluding food. Food and grocery spending expectations
continued to outperform other categories, hitting a new high,
though this could also be due to the expectation of rising
prices.
“The Spring statement is an opportunity for government to inject
some confidence back into the economy. In a matter of weeks,
retailers grapple with the reality of billions in extra costs
from the increases to employer National Insurance and the
National Living Wage. This £5bn in new costs will give many no
option but to push prices up. Food inflation is likely to hit 5%
by the end of the year, and with further costs from the new
packaging tax and implementation of the Employment Rights Bill,
prices risk being pushed up further. Without a much needed
confidence boost from government, the scale of new costs will see
retail investment fall further, holding back future growth in the
economy.”
Consumer expectations for the state of the economy
over the next three months:
Consumer expectations for their personal financial
situation over the next three months:
Consumer expectations of spending over the next three
months by category:
Consumer NET expectations of spending over the next
three months by category:
