Consumer Pulse Wave 12

Both consumer sentiment and the level of reported financial hardship improved in December as the lockdown came to an end and news of viable vaccines emerged. 42% of consumers say they are somewhat optimistic about the future (+ 8 pp) and 50% of households now report a negative financial impact (-2 pp).

Despite being hit hardest, younger generations report being more optimistic about the future. 57% of Gen Z consumers and 46% of Millennials are at least somewhat optimistic, compared to 37% of Gen X and 34% of Baby Boomers.

31% of households are planning to spend money on festive gifts, but 42% plan to spend less this year than last year.

Though half of all households still report financial impact, 24%of households say they are actually faring better than planned in 2020 with a further 37% say their finances are going as planned. Only 9% of consumers indicate they are much worse off financially than planned compared to the start of the year.

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