Style, Trending
Christmas shoppers to buy fewer and cheaper items this year as cost of living crisis persists
Oct
Christmas shoppers to buy fewer and cheaper items this year as cost of living crisis persists
Analysts anticipate a conservative approach to Christmas shopping by Britons this year due to the cost of living crisis. While total spending is predicted to rise by 3.4% to nearly £110bn in Q4 2023, shoppers are likely to seek bargains and reduce the number of gifts purchased, given the high inflation rate of 9.3%.
Nick Gladding from GlobalData commented that people would likely reduce their spending as many have exhausted their savings from the lockdown period. Additionally, inflation and increased mortgage rates mean consumers will be more prudent in their spending.
Black Friday online spending is predicted to decline by 2% compared to the previous year, despite inflation. Sales for gifts and online clothing are also expected to drop.
The inclination towards in-person shopping, combined with the increased costs of online deliveries and returns, are factors contributing to this decrease in online shopping.
A decline in clothing sales was observed in September, and many anticipate a further dip in October as shoppers await Black Friday discounts. Clothing retailers may introduce early discounts in November in anticipation of this trend.
Contrary to last year’s boost in spending from accumulated savings, this year’s scenario looks different with depleted savings, though wage increases and unemployment rates have somewhat balanced the inflation’s effects.
Competition in the food sector remains high, with major grocery brands like Tesco, Asda, and Ocado offering their online delivery slots earlier to capture the holiday market. Similarly, Waitrose has advanced its delivery schedule, noting that customers are planning ahead for Christmas.
Waitrose added, “When budgets are tight, we observe more advanced planning for festive seasons. Our website’s search trends for Christmas items have consistently exceeded last year’s since late August.”
Christmas shoppers to buy fewer and cheaper items this year as cost of living crisis persists
You can buy more stuff of Christmas here:
- https://tongassf.com/trending-now-christmas-ugly-attire/
- https://tongassf.com/product-category/t-shirt/3d-shirt/ugly-sweater-3d-shirt/
- https://tongassf.com/product-category/t-shirt/3d-shirt/ugly-sweater-3d-shirt/
- https://tongassf.com/product-category/t-shirt/3d-shirt/ugly-sweater-3d-shirt/
From TongassF, Shop Owl Fashion, BeuteeShop, Amzsmiles