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Sunday, June 23, 2024

Shoppers defy Brexit predictions

FM news online mainAlmost two thirds of consumers say their spending on food and eating out will be unaffected by the Brexit vote, according to recent research, quashing pundits’ predictions.
The same study reveals that 59% of consumers interviewed plan to keep their Christmas 2016 spending plans on a par with what they’ve done before.
The study of 1,000 UK consumers was commissioned by retail marketing specialist Live & Breathe, asking them how they expect Brexit will impact on their shopping behaviour. The top-ranked categories where people think they will spend less because of Brexit are leisure activities and eating out, both of which saw 16% of shoppers saying they expect to curb their expenditures.
MD of Live & Breathe, Nick Gray, said: “While people are sure to be feeling unsettled, it appears many of us are just carrying on as normal – especially when it comes to our spending habits. But if all we continue to hear are negative stories, it’s bound to become a self-fulfilling prophecy.”
The study revealed that on the whole women, particularly those in younger age brackets, felt more cautious than men following the referendum result.
Nick added: “Currently it is still too early to determine the full effects on shopper behaviour and most spending plans have stayed on course. Retailers need to bear that in mind and remain focused on delivering a terrific shopping experience – one that engages with customers and shows them that the high street is there to ride the storm with them.”

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