Consumer Confidence Severely Dented
Written by JDPGlobal | Monday, 15 August 2005
It seems that the London Bombings on the 7th July and the failed attempts on the 21st have dented British confidence. It was always assumed that the bombings would affect spending confidence but the drop in levels confirm that the problem is worse than imagined.
It seems that consumers are shopping closer to home rather than 'risking' the journey into the centre of London. In addition, many shoppers will feel that the atmosphere in the centre of London, coupled with additional security checks, have all contributed to a drop in consumer confidence and therefore spending.
JDP global can reveal that London based retail outlets have reported a drop in spending on a par with the period at the start of the Iraq war.
The study, for a leading UK commercial bank, was commissioned a week after the 7th July attacks.
In another report, the London Retail Consortium Group, announced that sales in the centre of town had dramatically fallen following the acts of terror. Retail sales in the capital fell 8.8 percent since July 2004, according to the Group.
