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Research reveals focus of consumer stockpiling for Brexit

by LLB Reporter
10th Sep 19 6:07 am

New research from Premium Credit, the UK’s leading premium finance company, reveals that of those people who have stockpiled goods, one in three have spent under £100, but 4% have spent over £2,000 each.

Amount spent on stockpiling goods in preparation for Brexit Percentage of people who have stockpiled goods in preparation for Brexit
Under £100 33%
Between £101 and £200 31%
Between £201 and £500 14%
Between £501 and £1,000 14%
Between £1,001 and £2,000 4%
Between £2,001 and £3,000 2%
Over £3,000 2%

When it comes to what types of goods people have been stockpiling, 74% of people who have done this said food, followed by 72% who have stockpiled general household goods such as toilet rolls. However, 50% have stockpiled medicines for themselves, and 43% have done this for other members of their family.

Items stockpiled for Brexit Percentage of stockpilers who have stockpiled these goods in preparation for Brexit
Food 74%
Household goods 72%
Medicine for themselves 50%
Drink 46%
Medicine for other family members 43%

Adam Morghem, Strategy and Marketing Director at Premium Credit said, “Our research shows that many people have spent a fortune on stockpiling goods ahead of the March date, but are now using these items due to cost implications and its impact on cash flow.

“With the new Brexit deadline fast approaching, we can expect customers to face similar pressure on the home budget and their everyday cost of living, with more looking for efficient ways to spread the cost we can expect more to turn to credit for help.”

Premium Credit is the market leader in the UK and Ireland and the only premium finance provider accredited by BIBA.

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