Consumer confidence bounces back up after Brexit resolution

The latest RED C Consumer Mood Monitor from January 2020 shows a significant increase in consumer outlook for the Irish economy, following the confirmation of a “soft” Brexit by the end of January. 20% now believe the economy will fare better in the next 6 months – up from 12% in October 2019.

 

But consumer confidence remains low, with 2 in 5 expecting the economy to worsen in the next 6 months. In spite of the prospect of a soft rather than a hard Brexit, more than 4 in 5 consumers remain concerned about the potential impact of Brexit on the Irish economy.

 

The concerns about the economy impact consumer spend with consumers remaining cautious. Spend intention is up for holidays but down or unchanged for all other categories. Across all spend categories, we see more consumers expecting to decrease spend in the next 6 months than consumers expecting to increase spend.

 

Download the full report on the January 2020 RED C Consumer Mood Monitor here:

RED C Consumer Mood Monitor – January 2020

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