European consumer sentiment survey: How current events are shaping UK consumer behavior

Concerns about recovery is at an all-time high in the United Kingdom. Rising prices are reported to be the top concern, with consumers significantly trading down in stores and products.

UK consumers are feeling great economic uncertainty. With energy and transport costs eating away at consumer savings and non-food spend, the top reasons given by survey participants for economic anxiety are the gas supply, supply-chain shortages, and energy issues. Consumers report the highest perceived price increases in groceries and household supplies, with two-thirds becoming more conscious about energy usage. Half of consumers changed their grocery brands in the last four to six weeks, with trading down a clear trend: price and value were the strongest drivers here.

These exhibits are based on survey data collected in the UK from April 12–18, 2022. Check back for regular updates on UK consumer sentiments, behaviors, income, spending, and expectations.

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