Pre-Christmas consumer confidence boost for flooring

It's beginning to look a lot like Christmas is picking up for flooring retailers with the key consumer confidence measure for big-ticket items jumping up five points in this key quarter for trade.

According to the latest GfK Major Purchase Index, consumer confidence in buying big items like furniture, flooring and appliances has risen five points this November to minus 16.

This is eight points higher than this time last year and also represents a positive turnaround for the sector - the Index slumped 10 points in pre-Budget September and was static last month.

The general level of sentiment in the GfK Consumer Confidence Index is also up by three points. Analysts say that consumers have shaken of the pre-Budget nerves after the Chancellor targetted businesses rather than individuals.

Neil Bellamy, Consumer Insights Director, GfK, says: “There was evidence of nervousness in recent months as consumers contemplated the potentially worrying impact of the UK Budget at home, and even the implications of the US presidential election. But we have moved past those events now.

“The biggest change this month is in major purchase intentions, an important measure that has jumped five points from -21 to -16 in the run-up to Black Friday next week," he said. "But while 2025 is just around the corner and the New Year often brings optimism, it’s too early to expect significant further improvements in the consumer mood. As recent data shows, inflation has yet to be tamed, people are still feeling acute cost-of-living pressures, and it will take time for the UK’s new government to deliver on its promise of ‘change’.”