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Fifth of shoppers say Brexit will change spending habits

A fifth of UK shoppers (20%) think Brexit will impact their shopping habits over the next 12 months, new research has shown.

The survey of more than 1,000 shoppers conducted by accountancy firm PwC also revealed that almost six in 10 consumers are worried about their lack of disposable income.

The Total Retail report found price was still the most important factor for determining customer loyalty, with 59% of respondents saying they return to a retailer because prices are good.

Other important reasons are trust in the brand (43%), and items being in stock (37%).

Almost six in 10 UK consumers only shop with companies they trust to minimise online security risks.

Madeleine Thomson, retail and consumer leader at PwC, said 2017 will be a “crucial year” for retailers as price inflation means brand loyalty will play a more significant role.

“With prices on the up and less disposable income available to the average UK consumer as a result, retailers will need to be versatile in order to keep their customers from looking for cheaper options elsewhere. The customer experience is key.

“As we look ahead, the ‘total retail experience’ looks to be defined as simple and streamlined; one that maintains a human touch, blending the best of technological advances with helpful and expert staff both in-store and online.”

Readers' comments (1)

  • darren hoggett

    I often question reports like this as they have a loaded agenda, in this case BREXIT. While lack of disposable income has been an issue for some since the end of time, I cannot think of a single customer we have conveyed with who thinks BREXIT will altar their shopping patterns in any way shape or form. The report is probably looking for an answer with no question.

    BREXIT has only been a positive thing for the industry - as a whole - and the hype on prices increases is not warranted as they generally have been modest at best with some brands actually bring their prices down and many unchanged from SS17, so even businesses that have allowed themselves to be too price sensitive, there should be no fuss.

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