BRITS are set to spend more than £670 each over the next two weeks as they shop for new outfits and start wearing make up again to celebrate life after lockdown.
A third are planning to spend more than £53 on a new outfit as they toast the occasion according to Virgin Red, the rewards programme.
🔵 Read our coronavirus live blog for the latest news & updates…
1
Over a quarter (26 per cent) of people are planning to host friends and family in the garden at home over the coming weeks, it found.
And some of those surveyed said that they will spend up to £400 to add the finishing touches to their homes before guests arrive for the first time in months.
On average, consumers have squirrelled away £372 each month during lockdown as they prepare to spend big, Virgin Red said.
The expected spending spree is the latest sign that consumer confidence is staging a rebound, fuelling hopes of a swift economic recovery.
In March, Britain’s consumer confidence score increased by 2.1 points to 108.5, separate research shows. Any score above 100 means more consumers are confident than not.
Rising business activity and optimism about household finances and home values provided the biggest boosts to the score from YouGov and the Centre for Economics and Business Research.
Darren Yaxley of YouGov said: “Our latest consumer confidence index continues to track Britons’ growing optimism, reaching its highest score since August 2018.
“March’s index indicates that many consumers are hopeful for a swift recovery – indicated by the two fifths who believe the economy will be expanding in a year’s time.”
