Brexit: Consumer Impact

March 06, 2019, 10:43 AM GMT+0

UK consumers understandably remain uncertain about the impact Brexit will have on their lives. Media coverage and political debate continues to feed people with scenarios of potential outcomes, ranging from good to bad. Such uncertainty will continue to drive behavioural changes, some of which can already be felt in the economy.

The YouGov Consumer Confidence Monitor has tracked consumer confidence for over 10 years - providing a foundation to understand how consumers feel, not just about the broader macro-economic environment, but also their personal financial outlook. We’ve used this rich data set to create a confidence segmentation of UK consumers that is much more granular than a simple framework of optimists, pessimists and those in-between.

We then identified four discreet segments in the population based on their economic outlook distinguishing between some of the key drivers for optimism or worry, such as personal job security, retirement funding prospects and changing interest rates to name a few.

YouGov presented the findings at our breakfast seminar Brexit: Consumer Impact on Wednesday 6 March to uncover how the polarised consumer sentiment around Brexit will impact on consumer behaviour specifically within the Financial Services, Digital, Media & Technology, High Street Retail and Travel sectors.

Download the presentation from the event to discover:

  • How consumers perceive the political debate on Brexit and what the underlying characteristics of our confidence segments are.
  • How different Digital, Media & Technology consumers are changing their behaviours towards subscription services as well as plans to upgrade any of their existing technology.
  • How consumer confidence is affecting financial behaviour including people’s propensity to save or spend money, pay off or accumulate more debt, review their insurance provisions or revise their longer-term financial goals.
  • How attitudes towards Brexit relate to consumers’ intentions to visit the high street during 2019, shop with the major retailers and how it might affect their travel plans for the coming year.

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