Table of Contents
Consumers’ Response to the EU Referendum Result
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- What you need to know
- Brexit sentiment has improved since summer, but pessimism still rules
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- Figure 2: Level of concern over the impact of the EU referendum, July 2016-November 2020
- Prices remain the top consumer concern as the end of the transition looms…
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- Figure 3: Consumer views on the impact of the EU referendum, November 2020
- … but consumers separate macro impacts from their personal fortunes
- Positivity is reliant on current wellbeing
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- Figure 4: Consumer views on the impact of the EU referendum - any positive response, by current financial wellbeing, November 2020
Current Financial Situation
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- What you need to know
- Household finances continue to defy the COVID-19 crisis
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- Figure 5: The financial wellbeing index, January 2015-November 2020
- Three quarters have healthy or OK finances
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- Figure 6: "How would you generally describe your financial situation at the moment?”, November 2020
- More than half of over-65s have healthy finances
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- Figure 7: Current financial wellbeing, by age, November 2020
Changes in Financial Situation
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- What you need to know
- The impact of COVID-19 is seen when comparing finances to last year
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- Figure 8: Changes in household finances, January 2015-November 2020
- Three in 10 feel worse off than a year ago
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- Figure 9: "How does your own financial situation compare to how it was a year or so ago?", November 2020
- Renters are feeling extra strain
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- Figure 10: Changes in household finances, by housing situation, November 2020
- One in eight households have experienced redundancy due to COVID-19
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- Figure 11: How consumers have been affected or changed their behaviour as a result of COVID-19, 10-19 November 2020
Financial Confidence
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- What you need to know
- Confidence reached a post-COVID high in November
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- Figure 12: The financial confidence index, January 2015-November 2020
- The vast majority expect to be fine over the next year
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- Figure 13: "And how do you feel about your financial situation over the next year or so?", November 2020
- Higher earners are more confident, but lower earners should still be fine
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- Figure 14: Financial confidence, by annual household income, November 2020
Planned Financial and Spending Activity
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- What you need to know
- Planned financial activity remains low heading into the Christmas period
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- Figure 15: The financial activity index, January 2015-November 2020
- Lack of social events is a blow for fashion retailers
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- Figure 16: "Which of the following have you done over the last 3 months? And which do you plan to do over the next 3 months?", November 2020
- Household products continue to enjoy an uplift in spending focus
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- Figure 17: Changes in expected spending habits over the next month, 10-19 November 2020
- Most are still uncomfortable with going to leisure venues
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- Figure 18: Consumers’ level of comfort doing various activities, 10-19 November 2020
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