The forthcoming general election seems to be making a number of UK consumers cautious about spending.
That is according to the director general of the
British Retail Consortium (BRC), Stephen Robertson, who believes that people are feeling a degree of uncertainty about the election, which take place on May 6th.
Retailers are having to take action to respond to this trend, Mr Robertson notes.
"The competitive battle is even fiercer than usual as retailers fight it out to overcome the reluctance of customers to spend caused by pre-election uncertainty," he commented.
While some consumers might have had to get credit in recent months to deal with inflation, BRC/Nielsen figures have suggested that March saw overall shop price inflation decrease from 1.7 per cent to 1.2 per cent.
Meanwhile, Principality Building Society research has recently highlighted the lack of confidence that many Welsh consumers still seem to be experiencing when it comes to economic matters.
Posted by Gemma Walker.
