The halo effect of the FIFA World Cup, alongside a rise in shopper sentiment among Baby Boomers, helped boost overall consumer confidence in July, the latest BRC-Opinium data reveals.

It’s latest consumer confidence tracker showed that consumer expectations for the next three months improved +6 index points this month, improving to -37 in July from -43 in June. Shoppers’ outlooks for their personal financial situation also improved this month, rising +3 index points.

“Consumer confidence improved for the third month in a row, thanks in large part to a bump in sentiment among baby boomers,” said the BRC Chief Executive, Helen Dickinson.

She added that this boost in consumer sentiment could also have been buoyed by a “national feel-good factor” as England progressed through the FIFA World Cup to the knockout stages.

However, she warned that retailers should treat the upward trajectory in shopper sentiment with an air of caution.

“We should not mistake this for recovery,” she said. “Only around one in ten expect the economy to improve in the future, and spending intentions remain more modest, though this may reflect lower inflation expectations, rather than tighter budgets.”

“While the direction of travel is encouraging, confidence remains fragile, with cost-of-living pressures continuing to weigh heavily on many families,” she added.

“While retailers are doing all they can to keep prices affordable for customers, the Government can play its part to reduce the cost burden on the industry, giving retailers the breathing room to invest in lower prices for the future.”

Leave a comment

Trending