A new survey from Field Marketing agency Gekko has revealed that consumer confidence is stable in the face of stark warnings from both sides of the EU debate. Asking 2,000 UK shoppers whether they were worried about the threat of Brexit when making a purchase decision, the survey found that over half (51%) of consumers do not feel the need to put off making an important purchase until after the referendum result. This is especially relevant for older generations, with the survey finding that 60% of those 55 and over are confident in the state of the economy leading up to June 23rd. Thinking about the results of the referendum, a significant 73.5% of UK consumers stated that their decision to make an important purchase would not be affected by the result. In fact, only 6.4% of consumers felt a vote to leave would dissuade them from making a considered purchase such as a consumer electronics or domestic appliance product, which are rarely purchased on impulse.
The survey also found that, despite many brands coming out in favour of either side of the referendum, a high proportion (61.3%) of UK consumers feel that brands should stay out of politics all together, instead leaving the argument to the politicians. This is strong message for many big brands which have come out in favour of either side of the referendum, including Unilever, Ryan Air, EasyJet, HSBC and Marks & Spencer. However, these brands shouldn’t fear any consumer backlash from their stance – whilst the majority feel they shouldn’t get involved in politics, 49% don’t change their opinion of a brand depending on their stance, and only 21% have indicated that they have a negative opinion of brands that do not share their view. Most consumers will still buy a brand regardless of their political leanings.
Daniel Todaro, Managing Director Gekko Group, said: “what’s clear for brands is that consumers are currently very apathetic towards the possible economic impact of Brexit. Brands warning people against leaving the EU are failing to get the economic message across as 32% of consumers polled remain unsure or unaware of the impact of import tariffs being imposed post Brexit.”
“Looking at the high street, brands and retailers should not be putting off any product launches or promotions, as consumer confidence looks to remain high. However brands should avoid entering into political debate where they can. These results are good news for retailers who might have otherwise expected a dip in sales depending on the result.”