"Great news" for big ticket consumer purchases
August 23, 2024
Consumer confidence for big ticket purchases like flooring has improved again, up 3 points, adding to a 7 point jump in July.
The GfK Major Purchase Index which asks consumers how positive they are about buying items like appliances, furniture and flooring rose three points to minus 13 – this time last year, the Index stood at minus 24.
- Joe Staton, Client Strategy Director, GfK, says: "The three-point jump in the Major Purchase Index is great news for retailers with more shoppers agreeing that now is a good time to buy big-ticket items. The wider point beyond the contrasts is that all the key numbers this month are significantly more encouraging than 12 and 24 months ago."
But he cautioned: "But as we move into autumn and winter, how much further will this slow improvement in the mood of the nation run?”
The figures are encouraging compared to GfK's overall Consumer Confidence Index which was unchanged for August, also at minus 13, and their Economic Index in which consumers say they are less optimistic about the UK economy – this Index was down three points to minus 35, but even this is 17 points higher than August 2023.
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