The Deloitte Consumer Tracker Q3 2022

Published On - 15th December 2022 Thought Leadership

DELOITTE

Since Deloitte’s previous confidence reading at the end of Q2 2022, the picture for households’ finances has worsened. Unprecedented levels of uncertainty saw consumer confidence fall for the fifth consecutive quarter to its lowest level on record in Q3 2022. Despite the announcement of an energy price cap, much higher energy and food costs compared with the same period a year ago, have pushed the Deloitte Consumer Confidence Index to a new record low at -20% in Q3 2022, twice as low as it was a year ago.
Key takeaways for Q3 2022
  • The decline in the Deloitte Consumer Confidence Index that began in Q3 2021 worsened last quarter
  • The gap between incomes and the cost of living widens
  • Sentiment regarding levels of debt reached its lowest level since the Deloitte Consumer Tracker began in 2011, falling by two percentage points to -17% compared with Q2 2022
  • Day-to-day spending slows for the second consecutive quarter
  • Consumers are starting to adopt more recessionary behaviours
  • Discounters grow market share
  • With spending on essentials such as energy and food taking a bigger share of wallet, the share of other more discretionary expenditures is falling

 

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