Confidence among UK shoppers rose to its highest level since February last month, reflecting news of a successful vaccine rollout, the latest IGD Shopper Confidence Index has found.
November's score of -6 is the highest recorded level since the start of the year, and is an improvement on the -9 reported in November.
According to IGD, just under one in five shoppers (18%) are now focusing on quality (+3% compared to October) rather than saving money (17%, -5% compared to October), while fewer expect to be 'worse off' in the year ahead (31%, down from 34% in October).
In addition, trust in the food industry has increased to its highest level since June, the study found, with some 80% trusting the food industry to maintain 'good availability'.
“News of a vaccine being approved for roll out in the UK and the easing of restrictions for family gatherings at Christmas has helped to sustain shopper confidence in the short term," said Simon Wainwright, director of global insight at IGD. "However, this is likely to be fragile in the months ahead as more shoppers feel the impact of the economic downturn. A changing relationship with the EU could also have a significant impact on shoppers.
“With shoppers focusing more on Christmas celebrations with their ‘Christmas bubble’, this provides opportunities for industry to highlight permissible treats during this time.”
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.