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“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's included

What's included

Table of contents

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

                            About the report

                            This report will give you a complete 360-degree view of your market. Not only is it rooted in robust proprietary and high-quality third-party data, but our industry experts put that data into context and you’ll quickly understand:

                            • The Consumer

                              What They Want. Why They Want It.

                            • The Competitors

                              Who’s Winning. How To Stay Ahead.

                            • The Market

                              Size, Segments, Shares And Forecasts: How It All Adds Up.

                            • The Innovations

                              New Ideas. New Products. New Potential.

                            • The Opportunities

                              Where The White Space Is. How To Make It Yours.

                            • The Trends

                              What’s Shaping Demand – Today And Tomorrow.

                            Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted.

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