Analysis by PricewaterhouseCoopers shows that Northern Irish consumers are the least confident in the UK heading into the festive season
Households across Northern Ireland are planning to cutback on their spending this festive season according to a new report that shows local consumers are the least confident in the UK.
The PWC survey showed that consumer sentiment in September 2023 was -13%, similar to its findings in June. Those who are least affluent and 35-53 year olds remain under the greatest financial pressure in Northern Ireland. However, only 7% of adults in Northern Ireland say they expect to spend more on shopping and celebrations this Christmas, with 36% saying they expect to spend less this year. The overwhelming reason being due to the rising cost of living. Across the UK, just under 80% of those who plan to spend less say it’s because of rising food and energy costs, compared with only 23% citing mortgage or rent payments.
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