Sorry for interrupting, this website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Learn more
Accept & Close

Consumers and the Economic Outlook: Quarterly Update - UK - October 2017

“Consumers’ spending power is being hit by the squeeze on incomes as inflation continues to outpace average wage rises. In four of the last five months, people have been more likely to feel worse off compared to a year ago than to say that their finances have improved. This is the first time this has happened since the start of 2015.
However, the majority of people still feel OK, and expect to get by in the year to come. Most importantly for retailers, consumers’ appetite to spend is higher than at any point since we started to track planned spending in June 2012. While there are legitimate concerns about the role of consumer credit in this spending, this attitude offers plenty of sales opportunities for British businesses.
Reflecting this willingness to spend, Mintel has predicted that Christmas sales will be between 1-2% up on 2016, which would be a solid performance, particularly given the broader economic uncertainty faced by the UK.”
– Rich Shepherd, Senior Financial Services Research Analyst

What you get

What's included

Why buy from us?

Succeed

Our reports will provide you with market data, consumer research and competitive intelligence to succeed in your market.

Instant Access

Buy now and you'll have instant access to the information you need to make the right decisions.

Opportunities

Find out what's next in the markets that matter to you: where opportunities lie and what challenges you will face.

Trusted

A business Superbrand, Mintel is a source you can trust. We have been defining and refining the Market Intelligence mix since 1972.

Table of contents

  1. Key Findings

      • Consumer sentiment
        • A tightening squeeze…
          • … and confidence has stopped growing
            • But most are holding up…
              • … and high-value consumer groups are more positive and willing to spend
                • Key economic indicators
                  • Figure 1: Key economic indicators, September 2017
              • Current Financial Situation

                • What you need to know
                  • Most consumers are getting by…
                    • Figure 2: “How would you generally describe your financial situation at the moment?”, September 2017
                  • … and sentiment is still relatively high despite recent falls
                    • Figure 3: The financial well-being index, February 2009-September 2017
                  • The most valuable consumers are also the most comfortable
                    • Figure 4: “How would you generally describe your financial situation at the moment?”, by age and gross annual household income, September 2017
                • Changes in Financial Situation

                  • What you need to know
                    • People are feeling worse off…
                      • Figure 5: “How would you describe your finances compared to a year ago?”, September 2017
                      • Figure 6: Changes in household finances, July 2011-September 2017
                    • … as inflation continues to outstrip wage growth
                      • Figure 7: Annual percentage change in CPIH versus annual percentage change in average weekly regular pay (3 months average), January 2015-August 2017
                    • Millennials are on the up, but retirees are lagging behind
                      • Figure 8: “How would you describe your finances compared to a year ago?”, by generation, September 2017
                  • Financial Confidence

                    • What you need to know
                      • Ups and downs, but confidence is still pretty high
                        • Figure 9: “And how do you feel about your financial situation over the next year or so?”, September 2017
                      • Has confidence reached a plateau?
                        • Figure 10: The financial confidence index, January 2009-September 2017
                      • Retirees are most bullish about the future
                        • A confident capital
                          • Figure 11: “And how do you feel about your financial situation over the next year or so?”, by region, September 2017
                      • Spending Plans

                        • What you need to know
                          • Planned spending is at a record high
                            • Figure 12: “Thinking about how you spend your money, which of the following have you done over the last three months? And which of you plan to do over the next three months?”, September 2017
                            • Figure 13: The financial activity index, June 2012-September 2017
                          • Young and eager to spend?
                            • Saving is a luxury for lower-earners
                                • Figure 14: Saving activity and intentions, by gross annual household income, September 2017

                            Companies Covered

                            To learn more about the companies covered in this report please contact us.

                            Consumers and the Economic Outlook: Quarterly Update - UK - October 2017

                            US $2,648.76 (Excl.Tax)