NEWS6 April 2020
All MRS websites use cookies to help us improve our services. Any data collected is anonymised. If you continue using this site without accepting cookies you may experience some performance issues. Read about our cookies here.
All MRS websites use cookies to help us improve our services. Any data collected is anonymised. If you continue using this site without accepting cookies you may experience some performance issues. Read about our cookies here.
Insight & Strategy
Columnists
Impact magazine is a quarterly publication for MRS members. You can access Impact content on this website.
NEWS6 April 2020
UK – Consumer confidence decreased sharply by 25 points to -34 between the first and last two weeks of March, with people concerned over their personal finances and the economy due to Covid-19, according to GfK’s Consumer Confidence Index.
The drop in the Overall Index Score, from -9 in mid-March, represents the biggest fall since GfK began collecting consumer confidence data in January 1974.
The latest data is part of an interim report produced in response to the ongoing Covid-19 outbreak, to accompany the monthly Consumer Confidence Barometer, carried out by GfK on behalf of the EU. Interviewing for the interim report was conducted between 16th-27th March among a sample of 2,000 individuals.
All measures tracked as part of the Barometer decreased in the last two weeks of the month. The Major Purchase Index, which tracks whether or not consumers think now is a good time to be buying more expensive items such as electricals, was hit hardest, dropping from -2 in mid-March to -52.
The measure tracking people’s outlook for the general economic situation over the next 12 months decreased by 29 points to -56, compared with the -27 score recorded in mid-March. Expectations for personal finances over the next year were also hit, with the measure down 20 points to -17.
Joe Staton, client strategy director at GfK, said: “Our Covid-19 ‘flash report’ shows a dramatic result with consumer confidence falling off the cliff in the last two weeks of March. The last time we saw such a decline was during the 2008 economic downturn. Our falling confidence in our personal financial situation and the wider economy reflects the new concern for many across the UK.
“Despite record grocery sales, and recent peaks for purchases of freezers, TVs and home office equipment as people prepared for a long period in the home, the Major Purchase Index is down 50 points – a stark picture for some parts of the retail industry in the short to medium term.”
Newsletter
Sign up for the latest news and opinion.
You will be asked to create an account which also gives you free access to premium Impact content.
Generation Z account for four in ten of all consumers worldwide, but are relatively disengaged from market research… https://t.co/cBWZEv6IIp
IA calls for privacy law changes in California https://t.co/iPaoD656wC #mrx #marketresearch
Rait buy majority stake in Baltics-based CX firm https://t.co/9oDUyrp39e #mrx #marketresearch
The world's leading job site for research and insight
Resources Group
Research Associate – Oxford / Hybrid – Health and Social (Charity)
up to circa £34,000 + Benefits
Resources Group
Senior Research Manager – Quant/Qual – Public Sector, Media, Environment!
£40– £44,000 + strong benefits
Sustrans
Senior Evaluation Officer, Research & Monitoring Unit
£28,499
Featured company
Town/Country: Witney
Tel: +44 (0)1993 222390
The nature and quality of the Emotional Connection you create and maintain between your brand and its stakeholders is critical to your success. We can tell you how well . . .
Town/Country: Stockport
Tel: +44 (0)161 477 9195
With extensive operational and project management experience, Data Options offer high quality data services to market research organisations of all sizes. Whether as overspill capacity for in house services or as . . .
Town/Country: London
Tel: +44 (0)20 7490 7888
Kudos Research are leading providers of premium quality UK and International Telephone Data-Collection. Specialising in hard to reach B2B and Consumer audiences, we achieve excellent response rates and provide robust, actionable, verbatim-rich data. Methodologies include CATI, . . .
Town/Country: Bristol
Tel: 020 7138 3041
OnePoll delivers international market research and communication solutions to global brands, ambitious start-ups and news media outlets . Established since 2003, our experts specialise in optimising online research, working with . . .
Town/Country: London
Tel: +44 (0)20 7401 4000
We specialise in conducting research with teachers, parents, children and young people. Our insights help brands and organisations to understand the needs, interests and behaviours of these audiences. Our impact . . .
Related Articles
RT @FairtradeUK: 'With food prices rising globally, we should be extremely concerned about how producers in low-income countries are weathe…
The post-demographic consumerism trend means segments such age are often outdated, from @trendwatching #TrendSemLON
0 Comments