Almost half of UK consumers are negative about the country’s economic perspective and as a result plan to cut clothing spend. So says McKinsey.

Consumers are changing retail stores in a general move to increase purchases from discounters. While spending on groceries increased in the last three months, spending across almost all other categories (bar pet food and supplies and gasoline) is expected to fall.

Consumers plan to spend less on footwear and clothing. In footwear, consumers would buy fewer items, a cheaper alternative, or a privatelabel and some will not buy footwear at all in the next three months. There have been marked shifts in activity, demand, channels and brands in search of value for money with most consumers having changed shopping behaviour in response to concerns and pressures faced.

Down trading is widespread and consumers are increasing purchases in discounters, drawn primarily by prices and promotions as well as value for money.Non-food retail sales in the UK fell 1.2 per cent in the three months to October, with clothing and footwear sales declining in particular. For many, Christmas will be more gloom than glitter as families focus on making ends meet with mortgage payment rises, and retail could be set for a bumpy ride ahead as a result.