Shoppers’ financial confidence has taken a beating as result of the COVID-19 pandemic, but their trust in food and consumer goods industry is at the highest point in a year, reveals the monthly shopper sentiment measure from IGD.
The IGD Shopper Confidence Index, which blends four measures of household finances, food prices, focus on quality vs. saving money and trust in industry, has declined by four points in March to -9, the lowest point since September 2019, when the Index nosedived to -10 on fears of a no-deal Brexit.
However, the measure of trust in industry bucked the overall trend, increasing two points -the highest it has been in the past 12 months.
“We are all living with daily proof of how external events can have significant impacts on all parts of our lives, not least how we shop for and think about food and groceries,” commented Simon Wainwright, director of global retail insight at IGD.
“Keeping on the pulse of how shoppers are feeling has never been so vital.”
Shoppers are most concerned with their household financial position going forward, as well as worries around future rises in food prices, according to the index. Shopper confidence has declined significantly across the country, with the lowest levels among middle-aged (45-64s) families.
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