Consumer confidence levels now 36 points higher than five years ago

In February, the high morale of the British consumer maintained January’s five-month high, according to the latest UK consumer index figures from GfK.

Shoppers-People-2013

Marketers handed fillip as study reveals consumers feel a little more optimistic about the level of cash they have.

The Confidence Index stayed at 1, while the propensity to make a big purchase fell one point this month to 4; although this is 15 points higher than February 2014.

The personal finances of British consumers decreased one point in February to -3, but there are clear signs the economy is improving, with personal finances 10 points higher than the previous year.

“Unless there is some dramatic change in the indicators that get media coverage, or people start feeling significantly better off as inflation edges towards 0, it is hard to see any major change between now and the election,” said Nick Moon, MD of social research at GfK.

GFK_graphic

Today’s figures represents a reversal from December’s nine-month low of -4 as consumers spent carefully over the festive period.

However, Moon thinks it was a one off and that consumers are ready to spend again. “The drop to -4 in December is looking more like a discrepancy,” he added.

“Looking back at historic figures, it’s worth thinking about how the mood was five years ago, In Feb 2009, we had an overall index figure of -35, which is hugely different to the figures we are seeing in recent months.”

Latest from Marketing Week

PLEASE SIGN IN OR REGISTER. IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and inspiration that will help you develop as a marketer and leader.

Register and receive the best content from the only title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work, so we can make Marketing Week more relevant to you.

Register now

THE BEST CONTENT

Our award winning editorial team and columnists will ask the biggest questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we will be your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Dedicated to developing your skills and helping you achieve marketing excellence. Find guidance on leadership, professional development and the latest industry jobs.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here