RETAIL ENVIRONMENT
Consumers remain cautious about the re-opening of non-essential services
Shoppers are taking a slowly-slowly approach to returning to the High Street and will only feel safe once everyone is vaccinated, according to new research.
The consumer study has found that while there is pent up demand for spending post-lockdown, consumers are likely to remain cautious about the reopening of non-essential services.
The latest EY Future Consumer Index found that 55 per cent of consumers would feel safe once everyone has had their COVID-19 vaccinations.
Meanwhile, 59 per cent of consumers said they would avoid touching items when out and about until the jab roll-out had been completed later this year.
Further research from Scottish Friendly and the Centre for Economics and Business Research (CEBR) showed that fashion shopping is not a priority for consumers.
A £50 billion shopping spree is expected to take place post-lockdown with households planning to spend 26 per cent of the money they saved during the pandemic.
The study of 4000 adults showed 34 per cent are planning to take a foreign holiday and 29 per cent will go on a UK break as their top priorities.
Over 20 per cent of people aim to buy more clothes, while 18 per cent will spend on beauty products.
