Fieldwork conducted on 12 – 15 November 2024
According to BRC-Opinium data, consumer expectations
over the next three months of their:
-
Personal financial situation improved
slightly to -3 in November, up from -4 in
October.
-
State of the economy worsened slightly
to -19 in November, down from -17 in
October.
-
Personal spending on retail rose slightly to
+3 in November, up from +2 in
October.
-
Personal spending overall remained at +17
in November, the same as in
October.
-
Personal saving remained at -9
in November, the same as in
October.
Helen Dickinson, Chief Executive of the British Retail
Consortium, said:
“There was little shift in consumer confidence since the
Chancellor's Budget, with many worried about the economy in the
lead up to Christmas. While there was a very slight improvement
in people's expectations of their personal financial situation,
this was offset by declining expectations of the wider economy.
Personal retail spending remained positive, edging up slightly,
though this was to be expected as consumers prepare for the
festive season. Within this, non-food spending expectations
remained low, though expectations of spending on eating out
improved the most out of all categories, as people prepare for
Christmas catchups with friends and relatives.
“The last month clearly did little to shift the dial for
households either positively or negatively, however, the same
cannot be said for the retail industry. With over £7bn in
additional costs in 2025 resulting from the Budget, retailers
will have little choice but to raise prices or reduce investment
in jobs and shops. To mitigate this, government must ensure that
changes to the business rates system, planned for 2026, bring
about a meaningful reduction in bills for all retailers.”
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:
-ENDS-
The BRC sent this release to our "Monitors" and "High
Street" media list. To check/update what media lists you are on,
please contact us below.
The next BRC Consumer Sentiment Monitor will be published:
- Thursday 23rd December (embargo copy sent on
22nd Dec)
- All monitor dates for next year can be found here
Methodology:
Fieldwork conducted by Opinium for the BRC. Sample included 2,000
UK adults and results have been weighted and assigned a net
score. Questions were:
- Over the next 3 months, do you expect your personal finances
to get better or worse?
- Over the next 3 months, do you expect the state of the UK
economy to get better or worse?
- What do you plan to do in relation to your spending over the
next 3 months?
- Reflecting on your retail spend across different categories,
overall do you expect to spend more or less on retail items over
the next 3 months?
- What are your expectations for saving over the next 3 months?
- What are your expectations for spending on the following
retail categories over the next three months compared to the
previous 3 months?
