Shopper confidence has reached its highest point since February last month, according to the latest IGD Shopper Confidence Index.
IGD said the score of -6 for November, while still relatively low, has reversed the recent decline, potentially reflecting the recent news of vaccine roll-out over the coming months.
“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,” commented 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.”
The index has also revealed that, for the first time since February, shoppers are focusing more on quality than saving money in the year ahead
Nearly one in five (18%) of shoppers are becoming more focused on quality (+3% vs. Oct) rather than saving money (17%, down by 5% vs. Oct).
Fewer expect to be worse off financially in the year ahead (31%, down from 34% last month). However, only 17% expect to be better off
Trust in the food industry has increased to the highest level since June, according to the index, with 80 per cent trust the food industry to ensure good availability (+3% vs. Oct)
