A quarter of shoppers plan to spend more this Christmas: new study
A new study on consumers festive spending plans has revealed that 25% of UK shoppers expect to spend more money this Christmas compared to 2012.
The survey of 1,000 household shopping decision makers by Savvy Marketing found that younger shoppers are planning to loosen their purse strings the most with 45% of 18 to 24 year olds saying they expect to splash out more this year. Next in line were the 25-31 year olds of which 31% said they planned to spend more. However, just 16% of 65 to 74 year olds surveyed said they would increase their spending this Christmas.
Alastair Lockhart, head of insight at Savvy Marketing, said: “After lacklustre Christmas trading in 2012, retailers and brands will be hoping for a stronger performance this year. There are some positive signs in place, not least a sharp rise in consumer confidence over recent months and growing column inches reporting improving economic performance. Our findings confirm this and suggest that around a quarter of UK shoppers are planning to increase their Christmas spending this year.”
The results of the survey also reveal that 37% shoppers expect to shop more online this year than they did in 2012 although 71% of respondents said they would visit a physical store to carry out their main Christmas food shop. Despite the predicted rise in online shopping this Christmas, only 19% of shoppers said they would do some Christmas shopping using their tablet although many are expected to use the devices to research Christmas presents and look for inspiration.
Lockhart added: “For retailers and brands it is important to take account of economic improvement and rising confidence, while being careful not to jump too far ahead. Price, or more particularly value, will remain king in the eyes of consumers. The savvy shopper is here to stay so, even as we see an increasing propensity for shoppers to trade up, they will continue to look for outstanding value.”
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