Net change in consumer spending behavior in the United Kingdom (UK) in August 2020

A recent survey carried out in the United Kingdom (UK) among consumers shows that the short term net spending behavior is shifted towards essential products from recreation and luxury items. Groceries category took the lead as the product group that has the largest net positive spending change with 18 percent, followed by household goods and medicines with 11 percent and 7 percent, respectively. Highest spending reduction was observed in apparel/footwear, electronics and restaurant/takeout product groups with net negative 15 percent, whereas books and alcohol saw the smallest change compared to other categories.