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COVID-Recovery Tracker | Crises combine to peg back consumer confidence

Published under COVID-Recovery Tracker
Written by John Gurd

After a period of relative harmony and improvement over the Summer months a seemingly
relentless run of bad news has led to a recent dip in consumer confidence:

  • Fuel crisis | Cost of living crisis Supply chain crisis Calls for Plan B | Etc…!

We remain in positive territory but consumer sentiment and consumer optimism around
personal life and finances have taken a hit over recent weeks.

Talk of rising costs, rising energy bills and supply chain issues have made people more aware of
their personal financial situation, and more aware of what they spend on discretionary items.

Recent rises in infection rates have also had a negative impact on how confident people feel in
public spaces, with calls for ‘Plan B’ leading to a spike in people wanting to see tighter COVID
restrictions being re instated.

This is happening alongside a general reduction in mask wearing in public settings which
further frustrates those who want a return to mandatory mask wearing and social
distancing.

As has been the case throughout this pandemic, opinion remains startlingly divided with as
many people wanting no restrictions, as are happy with restrictions, as want tighter
restrictions… Any change in legislation will be viewed negatively by the majority of society!

So we will continue to watch with interest as the next chapter unfolds in these uniquely
volatile and uncertain times.

Read our latest COVID-report