| Practice area: | Behavioural Economics | Education and Labour Markets | Public Policy |
|---|---|
| Client: | Post Office |
| Published: | 22 February, 2023 |
| Keywords: | choice experiment contingent valuation impact assessment quantitative analysis 2023 behavioural consumer Public Policy |
London Economics were commissioned by Post Office to analyse the economic and social value of Post Office.
Post Office generated an economic impact of £4.7 billion in 2021/22 throughout the whole of the United Kingdom, with at least £2 million of economic impact originating in every parliamentary constituency. Post Office also supported nearly 50,000 full-time equivalent jobs. In addition, visits to Post Office generated more than £3 billion of expenditure in nearby businesses, and generated nearly £1 billion for Postmasters in their retail outlets.
Based on analysis of two surveys (administered by YouGov), Post Office has an annual social value of £3.8 billion to consumers and nearly £1 billion to SMEs. The report also highlights the importance of Post Office as an enabler for SMEs, in providing vital services to vulnerable individuals, and in fostering a sense of belonging and community.
The link to the report is here and a link to Post Office’s press release is here.