Remainers twice as likely to cut back in the golden quarter as Brexit uncertainty bites
As we enter the all-important golden quarter of retail a seismic polarisation has emerged between leavers and Remainers in their confidence to spend. Ongoing Brexit uncertainty remains a key concern for Remainers, dampening their propensity to spend as worries about rising costs of living, availability of essentials and a weaker economy holds back spending.
Intuitively, there’s no surprise that leavers are much more confident, with the vast majority (86%) claiming that it’s had no bearing on their confidence to spend. But the gulf in attitudes is vast, with Remainers twice as likely to cut back spending in the final quarter than leave voters. Indeed, almost half of Remainers are planning to cut back spending this Christmas compared with 20% of Leave voters, leaving retailers pondering over how to best communicate with their customers. Sophisticated customer segmentation could provide a useful way to engage with customer audiences who feel more confident and ultimately have the greatest propensity to spend