5 killer stats to start your week

We arm you with all the stats you need to prepare for the coming week and help you understand the big industry trends.

1. Consumers want more control over their data

The majority (80%) of consumers would like more control over what brands do with their data. And 58% agree to terms and conditions without properly reading them – that figures climbs to 70% of consumers aged 18 to 24.
Some 65% of consumers believe their data is of value to companies, but are unaware of how to use this to their advantage. And 71 % of consumers aren’t aware of GDPR.

Source: Mindshare 

2. ‘Made in Britain’ label important to UK consumers

Three in four Brits say a ‘Made in Britain’ label would make them more likely to buy a product. More than a third (39%) of UK consumers feel more positively about British brands following the Brexit vote.
Three in five Brits describe British products as ‘quality’, compared to almost 50% of Americans. Some 40% of US consumers say they would be more likely to buy a product with a ‘Made in Britain’ label.

Source: Attest

3. Consumers are moving away from traditional banking

More than half (53%) of consumers are already using or willing to move to an online or mobile-only bank.
The most popular reasons for moving include online experience and functionality (58%), more attractive finance rates or fees (29%) and better quality of service (28%).
However, 56% will remain loyal to their bank if they are sent customised offers, while 41% don’t know how their data is being used by banks, and 29% are concerned about how it is being used.

Source: Relay42

4. Shopper purchasing confidence hits lowest level in more than two years

Only 47% of consumers feel it will be a good time to buy things they may want or need over the next year, compared to 53% before Brexit.
Consumer confidence in the UK stayed at 99 in the third quarter of 2017. However, the level has fallen from a high of 106 just after the Brexit vote. A score over 100 indicates degrees of optimism, below 100, degrees of pessimism.

Source: Nielsen

5. UK households to spend £20bn this Christmas

The average British household spends £726 celebrating Christmas. Gifts for loved ones represent just over half of households’ Christmas expenditure, with an anticipated average spend of £372.
This is followed by £168 for food and drink, socialising (£103) and buying a Christmas tree, decorations, and Christmas experiences (£83).
But how are Brits footing the bill? Two thirds (68%) will cover most of the cost out of their salary, 24% put money aside throughout the year and 18% will use a credit card for some of their spending.

Source: GoCompare Money

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