Linda Ellett, Head of Consumer, Retail and Leisure for KPMG UK, said:
“While measures to ease and control energy and cost of living pressures are welcome and hopefully aid consumer confidence, with a number of essential costs elevated or still rising, consumer spending is likely to continue to be impacted into 2027.
“Despite what’s been announced in the Budget, businesses are going to have to continue to battle for available share of wallet and from customers that are increasingly waiting for promotions or discounts for target products. As is the case for households, higher overheads are also pressuring businesses. Which is why those no longer having to pay business rates will be grateful that this burden has been eased, while others will welcome rates relief or a freezing of rates.
“Competitiveness remains key and companies will continue to seek out efficiencies where they can, while looking to the government to also provide the right conditions for growth.”
