Home / Knowledge / News / Apparel/Garments / UK consumer confidence rises between May & July – Tesco
UK consumer confidence rises between May & July – Tesco
26
Aug '13
UK consumer confidence rose in the three months to the end of July, driven by positive signals about the UK economy.

This coincided with a prolonged period of hot weather and British sporting success which is likely to have affected people’s mood. However concerns about personal finances and job security remain widespread.

These are the key findings of the third edition of The Consumer Today, the quarterly report from dunnhumby and Tesco, using their unique insights to provide a detailed picture of how British consumers feel about the economy in general, as well as their own personal situation.

Covering the three months to the end of July, the report finds that overall consumer confidence has reached its highest ever point since the survey began in July 2010.

Much of the improvement has been driven by more optimistic attitudes towards the country’s economy, with positive economic news leading to a marked drop in the number of people who feel the economy has declined in the recent past, and an increase in those believing it will improve in the future.

The good weather and British sporting success is also likely to have helped consumers to feel more positive about their present situation, contributing to the rise in overall confidence.

However, the report also signals a note of caution. Despite positive recent signals, a greater proportion of the population still believe that the economic outlook is gloomy rather than hopeful.  Concerns about personal finances and job security remain widespread, and are particularly acute amongst lower income households.

Simon Hay, CEO of dunnhumby, said, “This is the third of our quarterly reports measuring consumer sentiment and overall confidence is continuing on an upward trend since the last quarter. Encouraging economic signs have boosted the positive mood, but this has not translated to people’s personal financial situations, where there is still much uncertainty.”

Philip Clarke, CEO of Tesco, said, “It’s been a great British summer of sun and sporting success and it’s encouraging to see that consumers are feeling more positive about the economy.

"However, the underlying picture is complex and it’s not yet clear if the recent improvements in consumer confidence are thanks to these short-term factors, or part of a more significant shift. What we do know is that consumers are continuing to look for great value and I don’t see that changing.”


Must ReadView All

US & EU retailers release industry approach to GDPR

Apparel/Garments | On 24th May 2018

US & EU retailers release industry approach to GDPR

The Washington, D.C.-based National Retail Federation and...

Global cotton consumption to reach record in 2018-19: USDA

Textiles | On 24th May 2018

Global cotton consumption to reach record in 2018-19: USDA

Reflecting continued growth in the global economy, world cotton mill...

Courtesy: Nanollose

Textiles | On 24th May 2018

Nanollose develops fabric from coconuts

Australian technology company Nanollose has developed a sustainable...

Interviews View All

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search