Page 46 - HW October 2019

global eyes
Brexit has polarised
UK consumer confidence
WITH BREXIT (AND Christmas) looming, research from Retail Economics shows that the division between those in the UK who want to leave the EU and those who don’t has extended into their spending intentions.
Of those who voted “no” to Brexit (the “stayers”), Retail Economics says 30% rate Brexit as the greatest source of concern affecting their confidence to spend, comparedtojust6%of“leavers”.
In comparison, 86% of “leavers” suggested that Brexit is “not important at all” in their confidence to spend, more than twice
the proportion of “stayers” (39%) and, unsurprisingly also a lot more than those
who didn’t vote in the Brexit Referendum (61%).
The main risk for retailers, says Retail Economics, is if the almost half (48%) of “stayers” actually spend less this Christmas as they have indicated.
This proportion is more than twice the proportion (20%) of “leavers” by the way.
The relative confidence of “leavers” continuedintheirattitudestowardsa no-deal scenario on 31 October 2019, with 58% professing “no concerns at all” compared with just 11% of “stayers” for whom other factors (the “rising cost of living”, “availability of essentials” and a “weaker economy”) were
the biggest concerns.
Richard Lim, CEO of Retail Economics,
calls this major division of confidence “a seismic polarisation” adding: “Intuitively, there’s no surprise that ‘leavers’ are more confident, with the vast majority (86%) claiming that it’s had no bearing on their confidence to spend.
“But the gulf in attitudes is vast, with ‘remainers’twiceaslikelytocutback spending in the final quarter as leave voters. Indeed, almost half of ‘remainers’ are planning to cut back spending this Christmas compared with 20% of leave voters.”
www.retaileconomics.co.uk
A DIY vending machine?
German DIY retailer Hagebaumarkt has opened its first “Rescue Shop” in Kaarst, a town 15km to the West of Dusseldorf.
More a vending machine or kiosk than an actual store (see photo!), customers can now access urgently needed items around the clock, including drill sets, disposable barbecues, straps and batteries.
survey and an evaluation of last minute purchases taken just before closing time. The Rescue Shop can handle cashless
payment methods including NFC, Google Pay and Apple Pay and, to make sure the machine is never empty, Hagebaumarkt receives notifications via smartphone about stock levels!
The range was selected based on a customer
www.hagebau.de
44 NZHJ | OCTOBER 2019
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