Shopper confidence has dropped once again, following a mild lift over the past couple of months, according to the latest Shopper Confidence Index from IGD.
The research shows June saw shopper confidence drop 3 points to -24, lower than the previous lowest point of -23 in March 2022, reflecting increasing pessimism among shoppers.
All demographics saw drops in their overall confidence, with the most significant drops in those aged 45 to 54 – down from -23 to -30 – and lower affluence groups.
In addition, the data shows net financial confidence fell four points in June.
As saving money continues to take priority, shoppers are placing less importance on other factors like quality, down from -18 in May to -20 in June.
Rhian Thomas, Head of Shopper Insight at IGD ShopperVista, said: “The reality of the cost-of-living crisis appears to have hit home for shoppers this month, and that is reflected across their behaviour and sentiment.
“We anticipate shopping behaviour changes will accelerate as shoppers look to save as much money as they can, and being on top of those changes will be critical in the coming months.”
