Retail insurance customers are likely to take a cautious approach to business in 2010, according to an industry body.
The Centre for Retail Research, a consultancy and market research group, believes that retail insurance customers will use the results of the Christmas period to determine how they are going to approach the New Year.
Director of the group professor Joshua Bamfield commented that retailers feel there is going to be less money around next year due to increased taxes and VAT rises.
"I think people are going to remain cautious. I think there is subdued confidence rather than excitement," he added.
Professor Bamfield went on to say that it is currently difficult to predict the shape of consumer confidence in 2010.
Earlier this week, the British Retail Consortium stated that retail insurance holders' concerns for 2010 include the possibility of weak consumer demand, rising unemployment and increases in personal taxes.
