EY news and archive

UK consumers feeling cost-of-living crisis more than European counterparts

New data from the latest EY UK Future Consumer Index shows that cost-of-living pressures is affected UK consumers more than their European counterparts, as 62 percent are "extremely concerned" by the current crisis, compared with 50 percent in the rest of Europe. The twelfth edition of EY’s survey of 1,000 UK consumers found that affordability...

RetailFeatured

UK consumers to cut back spending this Christmas

Nearly half (43 percent) of UK consumers expect to spend less this Christmas, according to EY’s latest ‘Future Consumer Index,’ as the cost-of-living crisis intensifies. The research, which surveyed more than 1,000 UK consumers between September 23 to October 14, found that falling consumer confidence due to the cost-of-living crisis will have...

BusinessFeatured

Brands must be agile to keep up with a changing consumer

Gauging consumer sentiment during “regular” times is difficult enough, but during a crisis its challenges are augmented. Companies need to adapt to manage the now and tomorrow in ever-changing circumstances. The coronavirus has upended businesses and economies but also changed consumer behaviour, and not just because of lockdowns or the...

Retail

Shoppers don’t “feel comfortable” with trying on clothes

Ahead of June 15, when non-essential retailers are allowed to reopen in England as the coronavirus lockdown begins to ease, auditing firm EY has found that 80 percent of shoppers would not feel comfortable trying on clothes in store. EY’s Future Consumer Index reveals that consumers remain deeply cautious about returning to the shops, with many...

Business

UK retailers hit with profit warnings

Last week it was Marks & Spencer who was downgraded by Barclays. The week before it was the doom of Brexit that is expected to devalue a plethora of retailers. So far this quarter 66 companies have issued profit warnings according to accounting company EY. This is nearly 20 percent up from the same period in 2015. According to EY, 11 percent of...