British Retail Consortium Director General Stephen Robertson said: “With one in five people saying they have no spare cash, the highest ever recorded by this survey, customers are telling us they are cutting back on spending on all sorts of non-essentials.
Clothes, footwear, furniture and new technology are the biggest casualties as consumers attempt to manage their money.
“It's clear we are seeing the effects of customers' concerns about the future and about their own levels of debt.”
When asked about major concerns the economy was cited by more people than any other (31%) followed by debt (26%) Other major concerns included work/life balance (20%) and immigration (16%).
British Retail Consortium
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