UK consumer confidence increased slightly in October, rising two points to -17, according to the latest GfK Consumer Confidence Index.
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Four of the five key measures improved during the month. The Major Purchase Index—which tracks consumer intent to buy big-ticket items such as furniture and electrical goods—rose by four points to -12, a nine-point improvement compared with October 2024.
Other key measures also saw gains, with personal finances up two points to -5 and savings sentiment climbing seven points to +29.
Neil Bellamy, Consumer Insights Director at GfK (an NIQ company), said the uptick reflects changing shopping behaviour as consumers time their purchases around sales events. He noted that after years of high inflation, "many now delay major purchases until one of these sales events, and the biggest of all is Black Friday, on November 28."
Bellamy added that both consumers and retailers will be watching the Chancellor's upcoming Budget, scheduled just two days before Black Friday, to see whether it stimulates or dampens spending.
Source: www.bigfurnituregroup.com
