Complete One React to Continued drop of Consumer Confidence
A recent article on Marketing Week revealed that consumer confidence continues to remain in negative territory. Newcastle-based event-marketing specialists, Complete One has reacted to the results.
For two and a half years, consumer confidence has continued to drop, and it shows no signs of improving as the shadow of Brexit looms over the country, and the uncertainty that brings with it.
According to research conducted by GfK, a large market research institute, consumer confidence fell by two points in June to -9, cementing two-and-a-half years in negative territory for the UK. The report also revealed more bad news for Britain’s struggling retail industry, showing that consumers’ propensity to make a purchase falling by a point to 0.
The economic uncertainty in the country has the mood in the doldrums. The report showed consumers view of the general economic situation over the past 12 months and over the next 12 months are falling by four points to -28 and -25 respectively. However, it wasn’t all doom and gloom, with encouraging numbers, with the stock market reaching new highs, a strong job market, rising real incomes and low-interest rates.
Complete One has been operating since 2012, and award-winning entrepreneur and Managing Director at Complete One, Glen Lowes has seen the highs and the lows and viewed the GfK report with great interest. The business owner believes that the most interesting result was that consumers’ negative feelings towards the economy contrasted their own financial situation. While consumer confidence continues to drop, consumers are feeling positive about their own situation over the next 12 months, with the score at 6.
Complete One believes that there are a number of measures that companies can take to entice consumers to spend. Mr Lowes argues that brands need to work to connect with customers and provide an exceptional customer experience to turn them into loyal and long-term customers. The entrepreneur believes that if companies can build trust and instil consumer confidence, it will result in consumers parting with their hard earned money.
Complete One is urging companies to focus on personalised and tailor-made direct marketing campaigns to entice consumers. “Customers become jaded by the same old above the link direct marketing campaigns. Brands need to utilise the human element to deliver marketing solutions that are personalised and tailor-made to resonate with consumers,” commented MrLowes.
Complete One is a Newcastle-based event-marketing firm, specialising in interactive andpersonalised marketing solutions that utilise the human element to deliver quality and quantity customer acquisitions. The firm believes that companies need to designate a percentage of their marketing budget to in-person interactions to boost consumer confidence.