Average Briton to spend more than £1,300 in six weeks before Christmas, poll finds
The average Briton will spend a total of £1,371 in the six weeks before Christmas, according to a new survey; Yet a third of people say they feel worse off financially this year.
Current purchases are expected to equate to around £443 per household this winter in particular; while food and drink spend contributes an additional £316 per household; Both of these figures increased compared to last year.
This £1,300 plus additional money going into the total includes travel, pre-Christmas trips with work or family, holiday pay and other associated expenses.
Figures from a survey of 2,000 people by GlobalData for Vouchercodes also show that only 9.8 per cent (less than one in ten) say they feel “significantly better off” when it comes to money this year.
It also showed that more than one in five (21 per cent) plan to allocate their savings to Christmas-related expenses, while a similar figure (20 per cent) expect to use a credit card for this. In total, Brits are expected to make a profit of £91.1bn in the six-week period.
The latest retail data from the Office for National Statistics (ONS) shows that UK retail sales volumes rose an unexpected 0.5 per cent in September, despite previous forecasts of a decline.
Taken together with previous retail data, it points to a better-than-expected recovery for the high street in the final quarter ahead of the all-important Christmas period.
ONS senior statistician Hannah Finselbach said retail sales “increased quite strongly in the last quarter, reaching their highest level since summer 2022”. Although food stores saw little growth, good weather in July and August boosted clothing sales, while online retailing also performed well.”
Technology sales and online jewelers also saw strong demand last month.
Lloyds retail expert Aled Patchett said: “Retail sales likely received an extra boost in September due to back-to-school and back-to-work purchases, and a fourth month of rising sales points to encouraging underlying resilience.
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“As the upcoming autumn festivities, along with Christmas, attract retailers’ attention, their attention is focused on the end-of-year trading period.
“As shoppers continue to prioritize value, brands are evolving product lines, investing in greater operational efficiencies and carefully considering pricing and promotional strategies to maximize competitiveness while maintaining margins.”
