UK Consumer Sentiment Stable, But Low
4 August 2022
The Index of Consumer sentiment is our quarterly insight into the minds of UK consumers.
It tells us how confident they're feeling about their own finances, and also their optimism about the economy as a whole.
We're working on a detailed report, but you can see the topline trends in the infographic below:
UK consumer sentiment has stabilised after its huge fall last time, recovering slightly to 57.4.
This is still a very low score, meaning that the cost of living crisis is very much still with us.
Consumers' level of confidence varies a lot, and we can see that many people are even less confident in Q3 than they were in Q2.
We'll put a lot more detail in the forthcoming full report, but some key findings are:
Men are still more confident than women, but the gap has narrowed
Consumers over 45 are much less confident than younger consumers, and their index is still dropping
Income correlates strongly with consumer sentiment, with a big split at a household income of £40k
Sentiment predicts household spending - this demonstrates the impact of customer sentiment on their behaviour
Let us know if you have any questions, and look out for the full findings.
The Index of Consumer Sentiment
We now have over three years’ worth of data about consumer sentiment in the UK from our Index of Consumer Sentiment. In this episode Greg and Stephen discuss why TLF Research started measuring consumer sentiment, what the trends show, and why it matters.
The Customer Experience Landscape 2022
Every year we look at the trends in society and the economy that are relevant to Customer Experience for the year ahead. To outline the Customer Experience Landscape for 2022, Stephen will look at trends and predictions for: Customer behaviour Changing customer needs The CX h...
Trends in Customer Attitudes & Behaviour
What do we know about what’s changing in the way customers think, feel, and behave? The pandemic seems to have accelerated some trends that were already obvious, and introduced a few curveballs of its own. In this episode Greg and Stephen discuss the evidence from consumer survey...
Understanding Customer Loyalty - Attitudes, Behaviour, and Value
Customer loyalty is fundamental to our vision of how to build long term sustainable businesses, grounded in what we call a "loyalty strategy". In simple terms, that means finding and keeping the right customers. But "loyalty" is a curiously slippery word, often meaning different...