KPMG partner comments on outcome of General Election and the potential effects on retailers and consumers
Commenting on the outcome of the General Election today and the potential effects on retailers and consumers, David McCorquodale, Head of Retail at KPMG in the UK, said:
“Retailers will welcome the stability of a majority government that can allow them to plan for longer term investment decisions. The alternative of potential coalitions and ‘vote by vote’ deals may well have led to business holding back from investment.
“Retailers continue to face significant investment requirements in systems and logistics to adapt to an omnichannel environment and meet changing consumer demands and a stable government gives a great degree of comfort to make longer term investment decisions.
“As for the consumer, elections don’t tend to have an instant impact on consumer confidence but the consumer will be looking for the new government to deliver on its promises of improving the economy as greater job security and wage rate inflation are what drive consumer demand.”
Jess Liebmann, KPMG Corporate Communications
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