The findings also show that almost £7bn (£6.93bn) worth of new sales, could be added to these sectors alone if these adults were given the confidence to make those purchases by removing the feeling of employment insecurity that is holding them back.
Richard Davies, Director at jobsafe.me, said: "Many of these consumers do actually have the money but due to concerns around job security are storing up their cash for a rainy day should that eventuality materialise. We have become a nation of squirrels and are preparing for the worst, even though, for the great majority, the worst will never actually happen."
Davies added: "The GfK NOP research reveals an enormous new market opportunity for retailers, brands and service providers if they take action to unleash this sales potential by giving five million working adults the confidence to buy."
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