Main Streets Across The World_Final LR_v03
03
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K E Y T R E N D S T O W A T C H
M A I N S T R E E T S A C R O S S T H E W O R L D 2 0 2 2
CONSUMER CONFIDENCE REMAINS CRITICAL
FIGURE 3: CONSUMER CONFIDENCE FOR SELECTED MARKETS
The key driver to maintain and grow retail sales will of course be an increase in levels of consumer confidence (Figure 3). According to the Organisation for Economic Co-operation and Development (OECD), consumer confidence levels globally are at their lowest levels this century, even lower than those seen at the height of the GFC. The uncertainty of inflation and the pressure on household spending—higher mortgage and rent, energy and food costs—have left consumers anxious about the next 12 months. The expectation and hope is that once there is some indication that inflation is stable and abating, we will see consumer confidence bounce back. To an extent, there is early—if somewhat fragile—evidence of this sentiment, as we see confidence in many markets bottoming, and in some cases, even beginning to improve.
100 98 96 94 92 90 102 104 106 108 110
2011 - 09
2021 - 09
2017 - 09
2012 - 09
2015 - 09
2013 - 09
2018 - 09
2016 - 09
2019 - 09
2014 - 09
2010 - 09
2022 - 09
2007 - 09
2020 - 09
2008 - 09
2009 - 09
AUS
CHN
EA19
UK
JPN
KOR
US
Source: OECD
C U S H M A N & W A K E F I E L D
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