Consumers and the Economic Outlook: Quarterly Update - UK - February 2015
“People are finally starting to feel the benefit of the recovery in their pay packets. After five years, average wages are finally increasing more quickly than prices. Although this will take time to feed through into consumer confidence, there are signs that spending habits are changing.
People are making more use of credit, for example, showing that they’re confident enough to bring forward spending in the expectation of future pay rises. And Mintel’s research showed an increase in planned financial activity in January, particularly when it comes to big-ticket purchases such as holidays and home improvements.” – Toby Clark, Director of Research, EMEA
This report looks at the following areas:
An end to the income squeeze, but people are still wary
Millennials are leading confidence upwards
“People are finally starting to feel the benefit of the recovery in their pay packets. After five years, average wages are finally increasing more quickly than prices. Although this will take time to feed through into consumer confidence, there are signs that spending habits are changing.
This report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
Mintel conducts exclusive and original consumer research for reports, bringing up-to-date and unique insight to topical issues. This research examines the impact of social, economic, cultural and psychological influences on consumers.
Toby has worked at Mintel for 14 years and leads the large team of researchers who produce over 500 business reports per year on UK and European market sectors. He also oversees Mintel's quarterly reports covering consumer confidence and the state of the economy. Prior to this, Toby was Head of UK Financial Services research at Mintel.
An end to the income squeeze, but people are still wary
