A TIGHT CHRISTMAS
A quarter of shoppers say they’re cutting back on spending this year
IT might be coal in stockings for some children this Christmas, as a quarter of all consumers say they plan to spend less than they did in 2017.
A report from Retail Week looked at consumers’ expected festive spending.
It revealed that just 17% of people plan to spend more on Christmas this year, while 49% say they’ll plan to spend the same. Some 25% said they would spend less, while the remaining 9% said they weren’t sure what they would spend.
According to the Office for National Statistics, Christmas spending has shifted in recent years.
Whereas it used to take place mainly in December, it is shifting to November as more consumers seem to be starting their purchasing earlier in line with Black Friday promotions.
A report from the Centre for Retail Research found that adults spent an average £244.00 on presents last year.
The report estimated that this was 51.5% more than the European average of £160.82.
Presents aren’t the biggest cost at Christmas, though.
British families forked out an average £821.25 on gifts, food and drink and decorations.
Again, that’s higher than the European average of £532.
Mark Walmsley, chairman of the Independent Retailers Confederation, said: “We expect shoppers will continue to prioritise food and drink this year.
“Spending is likely to increase on organic or free-range produce, while vegetarian and vegan options will also become more prominent; from roasts to deserts and everything in between.
“Christmas always comes with an uptake in alcohol consumption too, and we can expect to see an uplift in unusual offerings like craft beers as well as gins, vodkas and whiskies from independent distilleries with their own unique twist.”
Despite the decline of our high street shops, nearly six in every 10 (59%) people expect to buy their Christmas shopping from bricks-and-mortar stores as opposed to online.
These include shopping centres, retail parks, and discount villages.
More than a quarter (26%) will order Christmas shopping from retailers’ websites or apps.
Surprisingly, just 15% of people say they will order their shopping from online marketplaces like Amazon or ebay.
More than three-quarters of all shoppers say that free delivery is the most important factor for fulfilment over Christmas, and 64% say that items not arriving on time negatively impacts the experience.
Christmas spending is getting earlier every year, with the bulk now being done in November