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Consumers and the Economic Outlook: Quarterly Update - UK - October 2014

“The revival in confidence has stalled. Although the economy is picking up speed, the population as a whole isn’t feeling the benefit of the recovery. People are as likely to say that they feel worse off than they did a year ago as they are to say that their finances have improved.

The headline data, though, mask major differences between different income groups. Higher earners are powering ahead: their finances are improving, and they are becoming increasingly optimistic about their prospects over the coming year. Those at the lower end of the income scale, though, are much less positive. The polarisation seen in the high street is likely to continue: premium brands should benefit from the growing confidence among the more affluent, while lower earners will still be turning to the discounters in an attempt to make the most of their money.”

– Toby Clark, Director of Research, EMEA

This report looks at the following issues:

  • The change in consumer confidence over the last year
  • Spending behaviour and intentions.
  • The difference in confidence among higher and lower earners

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Table of contents

  1. Key Findings

      • The revival in consumer confidence is slowing
        • Higher earners are seeing more of the benefits from the economic recovery
          • Key economic indicators
            • Figure 1: Key economic indicators, October 2014
        • Current Financial Situation

          • 2014: The revival in financial well-being has lost momentum
            • Figure 2: “How would you generally describe your financial situation at the moment?”, September 2014
          • The income squeeze is still having an impact
            • Figure 3: Financial health index, 2009-14
          • A stark divide between higher earners and the population as a whole
            • Figure 4: “How would you generally describe your financial situation at the moment?”, by household income, September 2014
        • Changes in Financial Wellbeing

          • A year of financial consolidation
            • Figure 5: “How would you describe your finances compared to a year ago?”, September 2014
          • Three phases of the recovery
            • Figure 6: The recovery index, 2009-14
          • More evidence for the existence of a two-track recovery
            • Figure 7: “How have your finances changed over the last 12 months?”, by household income, September 2014
        • Financial Confidence

          • A dip in optimism
            • Figure 8: “And how do you feel about your financial situation over the next year or so?”, September 2014
            • Figure 9: Financial confidence index, 2009-14
          • Higher earners aren’t immune from financial worries
            • Mainstream brands threatened at both ends of the market
                • Figure 10: “And how do you feel about your financial situation over the next year or so?”, by household income, September 2014
            • Spending Plans

              • Little change in spending plans
                • Figure 11: “Thinking about how you spend your money, which of the following have you done over the last three months? And which do you plan to do over the next three months?”, September 2014
                • Figure 12: Spending index, 2012-14
              • Higher earners are making the most of their good fortune
                • Figure 13: Spending index, by household income, September 2014
            • What it Means

              • A disconnect between economic data and consumer confidence…
                • …presenting continuing challenges to the mid-market

                Companies Covered

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                Consumers and the Economic Outlook: Quarterly Update - UK - October 2014

                £995.00 (Excl.Tax)