The Index of Consumer Sentiment Quarter 4 2023

As we close in on Christmas, we're pleased to share the final Index of Consumer Sentiment Report of 2023.

This report digs deeper into the link between consumer sentiment, inflation, and other macroeconomic indicators. A lot depends on consumers' personal circumstances, life stages, political persuasion, who they spend time with, and which papers they read.

We've also added some more free response options to the survey this time, which garnered a lot of interesting comments that gave a really rich insight into how people are feeling. There was a strong sense that financial anxiety is a very real and widespread thing for many of our panel.

Download the latest report now.

Download PDF now

Has consumer sentiment found a new, lower, level?

In Q4 2023, consumer sentiment has increased slightly. Taking 2023 as a whole, it seems to have found a new level which is higher than the very low point of 2022, but still a long way short of the level we saw up to Q1 2020.

  • The Index for Consumer Sentiment has risen around 2 points to 66.4

  • Through 2023 the ICS has varied between a low of 64.5 and a high of 69.3

  • The Index of Consumer Sentiment correlates strongly with inflation and other macroeconomic measures

Sentiment continues to follow a similar pattern in the UK, USA, and EU.

  • All three groups are settling to a new, relatively low, level

  • US consumer sentiment has slipped slightly behind the UK

  • EU consumers are closest to their pre-pandemic norm

TLF Research founder, Nigel Hill, had the following to say in his foreword:

As we close in on Christmas, it's important to remember that many of your customers, and perhaps even some of your staff, will be feeling these kinds of pressures. Your ability to respond appropriately - with empathy, understanding, and real help where it’s needed - will be remembered long after the current crisis

Download the full report now and let us know if you have any questions.

You may also be interested in

Customer Insight Magazine

Created and published in house, Customer Insight magazine is a home for longer features, case studies, and latest thinking on customer experience and insight. All designed to inform, stimulate, and sometimes to provoke. We hope you enjoy reading it as much as we do creating it!

Training & Events

We’re specialists in understanding customers and we’re passionate about sharing our knowledge to help organisations deliver first class customer experiences. Our training and events can help you develop your knowledge and skills on a wide range of customer research and insight su...

News & Opinion

UKCSI July 2023

The UKCSI is an independent, national benchmark of customer satisfaction published each January and July across 13 sectors of the UK, conducted by The Institute of Customer Service. The latest UKCSI report was released at the end of July 2023. Here are some of the highlights.

Downloads

How To Guides

Our 'How To...' guides cover a range of customer research subjects and aim to give you a practical guide to using tools and techniques that will help you understand your customers. Search the guides below to download a PDF copy. We'll be creating new guides on a regular basis, s...

Is it time to review your customer research?

We can help you design a programme that reflects your customers' needs and give you the insight your company needs to deliver a world class customer experience.

Get In Touch Now