Britons aim to tighten belts
“It’s no surprise that consumers say they plan to cut back”
UK consumers plan to curb their spending on a range of products and activities in 2019, according to audit, tax and consulting firm RSM.
It surveyed 2,000 UK consumers, including more than 180 in Scotland, asking whether they would spend more, the same or less this year on a range of 17 products and activities.
Without exception, consumers said they planned to spend less on all the options presented.
Only when it came to saving did the proportion of those who said they would save less roughly equal the proportion who said they would save more.
Consumers were most likely to cut spending on takeaways (27.6%), followed by technology (26.8%) and meals out (26.7%). Just over a quarter (25.8%) said they would cut down on new clothes.
RSM partner Andrew Westbrook said: ‘With the current political uncertainty it’s no surprise that consumers say they plan to cut back on a range of consumer goods and activities, however, as anyone who has ever made a new year’s resolution will know, there is often a difference between what people plan to do, and what they actually do.”