A OnePoll Consumer Confidence Survey found 61 per cent of UK adults expect to spend the same or more on household purchases than they did last year – with nine per cent prepared to dig deeper.
Last week saw the reopening of car showrooms and outdoor markets, while non-essential shops are about to open their doors following a three-month enforced closure.
Now that car showrooms and outdoor markets are once again open, and non-essential retail outlets are set to follow in a week’s time, the evidence suggests Brits are ready to get spending
The British retail industry has received a welcome boost after research revealed that cautiously optimistic UK consumers are preparing to loosen their purse strings when lockdown ends.
The nationally representative survey, of 2,600 adults, found that despite going through a bleak three months, two-thirds are confident enough that their life will eventually go back to how it was before.
This is likely to be music to the ears of the embattled High Street, with respondents expressing their intention to purchase goods such as carpets, furniture, and electrical products for their home.
Cost-cutting is key for many, with 16 per cent planning on using the same supermarket but being more bargain conscious, while a fifth will be opting for cheaper stores to do their food shop.
A consequence of this is a transformation in the way savvy-spending Brits buy their food.
However, while seven per cent of UK adults are expecting an above inflation pay rise, a quarter fear they will suffer a fall in annual income, while 18 per cent think they will have to look for a new job.
But 15 per cent are going to use supermarket delivery services more – which could be a welcome shot in the arm for Britain’s van manufacturing sector, particularly among firms which produce zero emission vehicles.
Fewer than half (40 per cent) of those questioned by OnePoll said they would go back to how they shopped beforehand.
This figure is highest among 25-34 years olds (23 per cent)
The property industry can also expect a boost, with 14 per cent of respondents saying they will relocate or move to a new house.
This is tempered by a fear that house prices will fall. Twice as many (35 per cent) Brits expect to see a drop in prices than those who think property in their area will increase in value (18 per cent).
The travel industry also has some positives after a torrid six months, with one in 10 Brits admitting they have missed their foreign trips so much they are planning on going away more than they did last year.
However, this could be a positive development for first-time buyers and those looking to climb the property ladder.
Of the 2,600 surveyed by OnePoll, 495 identified themselves as managers, directors, or business owners.
More than half (52 per cent) of these said they expected their business to come out of the pandemic the same or better than it was last year.