KPMG comment on GfK’s Consumer Confidence Index

Linda Ellett, Head of Consumer Markets, Leisure and Retail at KPMG UK, said:

“As the Christmas adverts and lights went on, consumer confidence has gone up with them. This correlates with the picture that businesses we work with have reported over recent weeks, with consumers buying early for Christmas and once again enjoying what towns and city centres have to offer.

“Businesses will be hoping that Black Friday, and the in-person festivities of Christmas and New Year, bring a further confidence boost that can be carried into 2022.

“Whilst confidence will continue to be shaped by the pandemic, the impact of rising cost of living and supply chain disruption, equally there is pent up demand for certain purchases, particularly holidays and other feel-good experiences.

“It will be interesting to see, post COP26, whether purchases are increasingly made with sustainability as a key consideration.  Recent KPMG research shows that 68% of customers under the age of 34 say they will pay more for goods from companies who demonstrate a strong commitment to environmental and sustainability principles.  But intentions and actions are not always the same.”

-Ends-

For further comment or interview, contact:

Steven Reilly-Hii, Media Relations Manager, KPMG,

Email: steven.reilly-hii@kpmg.co.uk

Phone: KPMG Press Office on +44 (0) 207 694 8773

Notes to Editors:

About KPMG

KPMG LLP, a UK limited liability partnership, operates from 21 offices across the UK with approximately 16,000 partners and staff.  The UK firm recorded a revenue of £2.3 billion in the year ended 30 September 2020. KPMG is a global organisation of independent professional services firms providing Audit, Legal, Tax and Advisory services. It operates in 147 countries and territories and has more than 219,000 people working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.