People 'remain cautious' during current financial climate

Financial caution is still being exercised by a number of UK consumers, an expert suggests.

The forthcoming festive season should prove to be more positive than the 2008 Christmas period, according to 42 per cent of those retail outfits recently polled by the British Retail Consortium.

However, the organisation's director general Stephen Robertson suggests that some consumers remain wary at the present time.

He commented: "There are more customers willing and able to spend now but, for many retailers, it's taking even more discounts to persuade them to buy."

Mr Robertson went on to say that "customers are cautious", while noting that "jobs are a big worry".

People looking to reduce their outgoings in order to overcome credit card debt may also be interested to note that the Moneyfacts.co.uk spokesperson Darren Cook has recently suggested that in recent months, saving appears to have become a more popular option for many consumers.

Written by Gemma Walker.