Spending Less in 2010?
Will your clients be spending less this year?
A new survey suggests that up to 52% plan to cut back on their spending habits this year compared to just 4% who vow to spend more money. The research found that whilst 61% of consumers feel that the recent VAT increase is fair, almost half believe that they will notice an obvious change in retail pricing in 2010 and will cut down on spending accordingly.
41% of respondents consider it fair that retailers continue to absorb the 2.5% VAT increase, whereas just 29% think that retailers are suffering enough and shouldn’t have to shoulder the burden.
The areas where consumers believe raised prices will be most evident included grocery shopping (61%), holidays and hotels (50%) and restaurants and bars (39%). Surprisingly, most respondents expect to see considerably less impact on larger ticket items, such as technology products (30%) and furniture shopping (25%).
Eligible members of BEVA will be able to vote for their Council team until Monday, 17 August 2026. Members will have received an election email on 17 July.
