LONDON: More than 20 percent of UK consumers are worried about the impact of Brexit on their spending plans over the next year, according to a report published by PwC on Thursday.
The business advisory group said its survey also found that almost six in 10 British consumers are concerned about their lack of disposable income.
Last week, official data showed British shoppers unexpectedly cut back on spending in January after last year’s Brexit vote pushed up inflation — the strongest sign to date the UK economy is heading for a slowdown.
Consumers were barely fazed last year by June’s decision to leave the European Union. But they are turning more cautious with prices rising quickly in response to the post-referendum slump in the value of the pound and higher oil prices.
PwC’s survey of more than 1,000 UK shoppers found that price was still the most important factor for determining customer loyalty, with 59 percent of respondents saying they returned to a retailer because prices were good.
Other important reasons were trust in the brand (43 percent)and items being in stock (37 percent).
The report also highlighted an increasing reliance on Amazon , with 91 percent of UK shoppers using the Internet retailer.
One-fifth of UK shoppers fears Brexit may impact spending: PwC survey
One-fifth of UK shoppers fears Brexit may impact spending: PwC survey
DP World announces new leadership appointments
DUBAI: DP World announced the appointment of Essa Kazim as Chairman of its Board of Directors and the appointment of Yuvraj Narayan as Group Chief Executive Officer.
Essa Kazim currently serves as Governor of the Dubai International Financial Centre and Chairman of Borse Dubai. He brings extensive experience in financial and economic affairs, having previously held senior leadership positions in several national institutions.
Yuvraj Narayan has extensive professional experience in financial management, corporate finance, supply chains, and global trade. Since joining DP World in 2004, he has led a number of strategic and transformational initiatives that supported the company’s expansion across international markets and strengthened its role as an integrated global provider of end-to-end supply chain solutions.
Narayan has served as Group Chief Financial Officer since 2005, contributing to the company’s financial resilience and operational efficiency.
DP World affirmed that the new appointments support its strategy for sustainable growth and reinforce its role in strengthening global supply chains and supporting Dubai’s position as a leading hub for trade and logistics.
