Survey reveals squeeze on households

| August 12, 2011 | 0 Comments

The British Retail Consortium’s (BRC) latest consumer confidence survey has revealed how consumer shopping habits have changed due to the Government spending cuts and the rise in the cost of living.

According to the survey released by the BRC and Nielsen, almost one third of those questioned feel that they have no cash left over once essential bills have been paid.

71% have changed their shopping habits, while almost two thirds have switched to buying cheaper grocery brands.

BRC director general Stephen Robertson comments: “The squeeze on disposable incomes is getting tighter. A third of people said they have no spare cash, a new record high.

“Weakness in the economy and rising utility, fuel and food bills top consumers’ concerns for the next six months. Even after paying out for essentials, households that do have spare cash are choosing to pay off debts and build up savings rather than spend on the high street,” he added.

Analysts expect a boost in consumer confidence next year due to the London 2012 Olympics but the mood is expected to remain subdued until then.

Tags: , , , , ,

Comments (0)

Trackback URL | Comments RSS Feed

There are no comments yet. Why not be the first to speak your mind.

Leave a Reply

Visited 597 times, 5 so far today