As the UK consumer’s already-squeezed wallet now begins to see the full impact of mortgage rate increases, the battle for discretionary spend remains a critical challenge for consumer, retail and leisure business leaders.
Yet, while 56% of consumers are saying they are reducing non-essential spend* and the focus on value for money remains top of mind, we still see an appetite for spending in certain categories that signposts significant opportunity for those who understand their target customers and align to those needs.
Each quarter, KPMG polls 3,000 UK consumers to gauge consumer confidence and propensity to spend, and we’ve now partnered with Snoop, a free money-management appopens in a new tab, to combine this insight with their customer spending data to bring you a more holistic and realistic view of consumer spending.
