Survey: Olympics Fail To Rally U.K. Consumerism
The majority of Britons are indifferent toward the London Olympics and feel "pessimistic about the U.K.'s economic outlook," according to Ainsley Thomson of the WALL STREET JOURNAL. A new survey from market-research company GfK Group found that 70% of those polled were "indifferent or uninterested" in the event. The survey was "a blow to the government's hopes that enthusiasm for the sporting event will lead to a consumer boom that will help drive the country out of recession." GfK said that 26% of consumers who described themselves as excited about the games were "optimistic that the economy will improve" during '12. Only 12% of people who said that they were "indifferent or uninterested in the event" believe the economy will improve this year. In regard to personal finances, 21% of consumers who are excited about the Olympics "believe their financial situation will improve" this year. Only 10% of those who are apathetic are "hopeful their personal financial situation will improve this year." The survey "highlighted the link between the level of interest a consumer has in the Olympics and retail purchases." Additionally, 11% of people who told pollsters that "they are excited about the event" also said that they may buy a new TV specifically for the games. Six percent said that they are considering buying a new laptop for the event, while 7% may buy a barbecue (WSJ, 6/25).