Christmas spending to increase, say reports
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Spending on Christmas purchases is set to increase this year, with one in five consumers planning to spend more than last year.
Now in its second year, the Accenture UK Holiday Shopping Survey offers insights into consumer buying patterns during the Christmas period. It gives an indication of retail performance expectations both on the high street and online at a key time for the sector. Over 1,500 UK shoppers from around the country were surveyed.
The research from Accenture revealed that almost half (43%) of UK shoppers surveyed are either confident about how much they have to spend this Christmas, or feel optimistic about their financial situation more generally.
While spending is set to increase, British shoppers still can't resist a bargain with a quarter (24%) of shoppers seeing a discount of between 20%- 29% as enough to convince them to buy a product. Almost half (48%) of respondents report that in-store promotions enhance their shopping experience.
"The intention of consumers to spend more this Christmas points to what should be a strong trading period for retailers," said Matt Prebble, managing director, retail, Accenture UK & Ireland. "We found that 35% of consumers have already started purchasing their Christmas gifts, giving retailers an extended period to drive revenue. To ensure they capitalise on this opportunity, retailers should make sure they are offering a seamless experience with targeted offers and promotions extending across all of the digital and physical channels."
52% of the respondents anticipate doing the majority of their Christmas shopping online while 44% plan to do the majority of shopping in-store.