Sector focus – changes in consumer spending and attitudes?

debt economy retail Dec 10, 2019

It will be interesting to see the analysis of consumer spending once the Christmas and peak holiday buying season is over.

Data throughout the year has indicated that people are less willing to splash out on so-called “big ticket” items, whether online or on the High Street.

Whether this is being caused by a change in attitudes to consumption or to increasing worries about job security and income is not yet clear. Consumption assumes spending on basic needs and then discretionary spending on goods and services including leisure.

Influences on consumer spending

Clearly, consumers’ confidence in their current and future financial situations are a key driver in the willingness to spend at least in the short term.

It is influenced in part by the changing costs of expenditure on such things as housing, fuel, food, clothing and travel costs, which are monitored annually by the Consumer Price Index (CPI), where the weighted average of prices of a basket of consumer...

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