25 July 2016 - Janet Bird
New research has revealed the majority of UK shoppers have no intention of reducing their spending in the wake of the Brexit vote.
A study of 1,000 consumers commissioned by retail marketing agency Live & Breathe found most people intended to carry on regardless with their current spending habits.
Sixty-three percent of those questioned planned to spend the same amount on food as they did before the referendum, with 58 percent intending to spend the same on clothes. Nor are many planning to tighten their belts at Christmas, with 59 percent saying their budget this festive season will be the same as previously.
Indeed, 'spend the same' was the first choice answer for consumers in response to questions about every type of purchase, ranging from insurance to holidays, eating out and charitable donations.
The survey did find that women were more nervous about the impact of the Brexit vote than men, with 18 percent expecting their leisure spending to decrease compared to 12 percent of men.
Young people were also more uncertain about the likely impact of the referendum result than those aged over 45. Around 25 percent of 18-24 year olds expected their leisure spending to decrease, compared to 13 percent of over 45s. A quarter of those aged 23-34 expected to spend less on property and 17 percent thought they would probably set aside less in savings and pension payments.