Edition 12 focuses on how the current economic environment is changing consumer finances, opinions and behaviour
Since June 2020, we have shared our quarterly insights, helping build industry understanding of the issues consumers are facing in regard to their finances and wellbeing. Our longitudinal data is the most optimistic we’ve seen since March 2022 and confirms the trend of a gradually improving picture. This appears consistent with the 0.1% growth in GDP in Q1 2023 announced by the ONS.
Our findings are based on a robust, nationally representative sample of 4,000 UK adults allowing us to have confidence that these reflect the views of UK consumers. We explore a variety of topics including people’s changing finances, their retirement regrets and how the rising cost of living is impacting them.
Edition 12 focuses on how the current economic environment is changing consumer finances, opinions and behaviour. We found that millions of people are struggling to make ends meet, however the proportion of people who think their finances will improve over the next three months is rising.
We also revisited scams this quarter, as 39% of those with higher household incomes (100k+) say they have been targeted by pension scammers. Predictably, 54% are worried about pension scams and 49% wish they knew more about how to identify or prevent them.
Of those surveyed this quarter:
LV= surveyed 4,000 nationally representative UK adults via an online omnibus conducted by Opinium in March 2023.