Over half of Brits say Brexit won't affect spending habits

As much as 60 percent of British consumers say that Brexit has not and will not affect their spending this year, according to new research by PwC.

In a survey of over 2,000 consumers, figures show that the north-east of the country is the least concerned, with 70 percent saying their spending habits hadn't changed and wouldn't change in 2019. On the other end of the scale, consumers in London were most concerned, with 41 percent saying that they had already changed their spending habits, while a further 14 percent said they planned to do so. Of those who said they would change their spending as a result of Brexit, half said they would buy less, while a third said they would postpone big-ticket purchases.

Commenting on the figures in a statement, Lisa Hooker, head of consumer markets at PwC, said: “When speaking to consumers in recent years, they’ve consistently told us their main priorities for increased spending are groceries and holidays. This year, these categories remain important but we are seeing subtle changes for the younger generation who are prioritising spending money on their homes, health and beauty.

“What is consistent across the board is that consumers are looking to get more for their money, with almost a third saying they will shop around more and buy more items on promotion. Pressure on consumer spending will impact the little luxuries - such as eating out - with just over a third of people saying they plan to cook at home more.”