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Perspectives

The Deloitte consumer tracker (Q4 2013)

Confidence suffers a setback

We are pleased to present the latest results of the Deloitte Consumer Tracker. This report is an economic update focusing on consumer spending attitudes and behaviours. It is based on our consumer survey and analysis of the macroeconomic environment.

Below are some of the key themes emerging from the final quarter of 2013:

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The Deloitte consumer tracker

Confidence suffers a setback
The pessimists continue to outnumber the optimists as all measures of confidence, including job security and disposable income, slowed in the fourth quarter. This indicates that there are still some headwinds facing the consumer recovery.

Heightened spending suggests uneven recovery
Highlighting the uneven nature of the recovery, increased discretionary on categories such as going out, clothing and electricals saw a net improvement year-on-year despite no real income increase.

Polarised growth
There are signs of growth at both ends of the spectrum, particularly in the retail sector where both premium and value ends of the market are enjoying increasing sales.

The outlook remains positive
Entering 2014, consumer confidence is expected to return to an upwards trajectory as lower inflation and an improving labour market combine to help lift real incomes and provide the conditions for sustained growth in the consumer market.

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