More than a third of consumers believe they will have less money to spend following the general election regardless of who wins, according to the findings of a new survey of more than 300 consumers.
Some 315 consumers were asked by customer experience management company, Empathica, what impact the results of the May 6 general election may have on their spending.
Just 1% of consumers expect to have brighter financial prospects following the election, while 36% are unsure of how the election will affect how much money they have.
Uncertainty around the general election is contributing to a continued trend of belt-tightening among consumers.
Some 21% of consumers who expect to spend less in the coming months are saving for unexpected events around the corner, including the prospect of post-election tax rises or spending cuts.
“These findings show that the general election and current state of the economy is still a cause of concern for the general public and consumers are remaining cautious over their spending habits,” said Gary Topiol, Managing Director at Empathica.
“Therefore it is imperative that retailers work harder to deliver outstanding customer service to help build customer advocacy and support business growth during this time.”
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