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Consumer Compass

Q1 2023 report

After a year of continuously dropping, consumer confidence has started to rebound, with two quarters of five-point growth in a row. However despite these gains, confidence is still below long term averages and far away from being positive, as the economy remains in a state of flux. Could this growth may be short lived?

Robyn McKane Associate Director 20/04/2023

In this quarter’s Consumer Compass report, we see the lingering effects of the cost-of-living crisis. Consumers continue to tighten their belts and spend across many non-essential sectors remains lower than this time last year.

However, it’s hopeful to see anticipated travel and leisure spend has started to increase as we head into the holiday season, with wellbeing being a key driver in this continued spend. And with inflation projected to decline over the next year, consumers appear to show some signs of optimism.

Download our full report to see how your sector is impacted, why spending habits are shifting and what the future has in store.  

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