The summer months have been somewhat turbulent for the retail sector; multiple reports of stumbling profits, large companies filing for administration and a general sense of fear and uncertainty has left the whole country feeling downbeat about the future of the retail market.
Now however it seems the country is taking a brighter turn, as latest figures show the Gfk Customer Confidence Index rose by five points in August.
The long-standing Index rose to -7 last month, up from -12 in July. Although still in the minuses, five points is a significant jump in just one month. And Pallet Truck Shop, key suppliers of a whole host quality warehouse equipment such as pallet trucks and aerial platforms, has celebrated the news and is urging businesses to focus on the upcoming busy retail sector.
"This news is certain to be a welcome comfort to businesses right across Britain," says Phil Chesworth, Managing Director at Pallet Truck Shop. "No matter what your viewpoint is on the Referendum, there's no denying that businesses have suffered over the last couple of months as a result, however as predicted by many, the dust appears to be settling, and consumers are realising the effects of the Vote itself haven't been as catastrophic as first predicted."
While the indexes relate to the forecast for personal finances, the climate for major purchases, as well as the general economy over the next 12 months, have all risen. There has however been a 16 point fall in the savings index, which has shown a decline from 1 to -15 during August, and this does highlight a 17 point lower number than August 2015.
Phil, adds, "The surge in confidence has seemingly come from the good news from hard data, the historic low interest rates and continued high levels of employment. And it couldn't come at a better time. September marks the start of the final retail push of the year, as consumers and companies alike look forward to the festive season. Business owners must take this positive news and put all their efforts into creating unrivalled campaigns to really push forward their offering before the end of the year."