Consumer confidence ‘since the Budget’ is a blow for retailers – London Business News | Londonlovesbusiness.com

Consumer confidence is “weak” since the Autumn Budget in the run up to Christmas which is yet another blow for retailers.

According to the British Retail Consortium (BRC)-Opinium Consumer Sentiment Monitor, over the coming three months consumer expectations over their personal finances improved slightly to -3 in November.

As people are preparing for Christmas as “expected” personal retail spending remains positive, the BRC said.

However, expectations for people buying products other than food and drink items remains low.

BRC chief executive Helen Dickinson said, “There was little shift in consumer confidence since the Chancellor’s Budget, with many worried about the economy in the lead up to Christmas.

“While there was a very slight improvement in people’s expectations of their personal financial situation, this was offset by declining expectations of the wider economy.

“The last month clearly did little to shift the dial for households either positively or negatively, however, the same cannot be said for the retail industry.

“With over £7 billion in additional costs in 2025 resulting from the Budget, retailers will have little choice but to raise prices or reduce investment in jobs and shops.”