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Consumers say Brexit will not hit spend

A total of 60% of consumers said Brexit has not affected, and will not affect, their spending habits in 2019, new research has shown.

PwC’s Retail Outlook 2019 report surveyed 2,000 consumers about their spending for the year ahead.

Respondents in the north-east of the country were the least likely to change their habits: 70% said their spending would be unaffected by Brexit. Londoners, meanwhile, are the most concerned: 41% said they had already changed their spending, and a further 14% said they would do in 2019. Of those who said they would change their spending as a result of Brexit, half indicated they would buy less, and a third would postpone big-ticket purchases.

Lisa Hooker, head of consumer markets at PwC, said: “When speaking to consumers in recent years, they’ve consistently told us their main priorities for increased spending are groceries and holidays. This year, these categories remain important, but we are seeing subtle changes for the younger generation who are prioritising spending money on their homes, health and beauty.

“What is consistent across the board is that consumers are looking to get more for their money, with almost a third saying they will shop around more and buy more items on promotion. Pressure on consumer spending will impact the little luxuries – such as eating out – with just over a third of people saying they plan to cook at home more.”

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