UK consumer confidence gets a boost

New Ideas in MarketingEssential news for marketers, summarised by YouGov
July 23, 2021, 5:40 PM UTC

GfK’s consumer confidence index found UK consumer confidence has passed pre-pandemic levels after a series of improvements over the last six months.

With pandemic-influenced restrictions easing/reducing, the UK consumer confidence level is going up again. The overall UK consumer confidence was up to -7 in July this year, the same level as February 2020 and two points more than January 2020.

The measure for the general economic situation in the UK during the last 12 months went up by four points in June to a score of -43. But, the expectations for the general economic situation during the next year dropped three points to -5.

GfK’s client strategy director Jason Station said, “The healthy seven-point [in the major purchase index] rise aligns with strong retail growth figures…” He added that it reflects the unlocking of UK high street and more Britons visiting stores, restaurants and venues.

Read the original article

[2 minute read]