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Over 40% of people have less money compared to pre Covid – research reveals

Closeup shot of an entrepreneur working from home on his personal finances and savings

people have less money compared to pre Covid

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32% will spend less on a holiday in 2022 and just over 1 in 5 are worried about their job security

WHAT: Toluna’s Global Consumer Barometer Study is a regular index that taps into a community panel of 36+ million members to provide accurate and timely information on the world’s current perceptions. The latest wave of research surveyed 1,066 people in the UK.

KEY FINDINGS

Since the pandemic began nearly two years ago, our finances have suffered and continue to as rising energy costs, inflation, and increased household bills heavily impact how we spend our money and where.

This tsunami of financial worry has affected both long-term and short-term spending behaviours.

Looking back at Christmas 2021, financial struggles weighed heavily on people’s minds.

The year ahead: financial worry continues to dominate spending choices

Lucia Juliano, Head of Research UK & NL, Toluna said, “It’s clear that we’re living with the long-lasting impact of Covid-induced repeated lockdowns, ongoing restrictions, and uncertainty around the economy. Couple this with rising energy costs, inflation, and other household bills, and you have a perfect storm of financial worry and uncertainty. Despite the Covid situation easing once again, with restaurants, pubs, and cafes open and running as normal and international travel made easier and more manageable, the appetite to spend money on such activities is a lot weaker than before Covid. As the cost of living rises, people are choosing to spend less and save more, with insecurity around personal finances remaining high.”

#ENDS#

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