Christmas as usual for UK consumers - Licensing.biz

Christmas as usual for UK consumers

New research from Deloitte shows 57 per cent of UK consumers planning to spend the same this Xmas as last.
Author:
Publish date:
Social count:
0

The 14th annual Christmas Retail Survey from Deloitte has shown that 57 per cent of UK consumers intend to spend the same this festive season as they did last year, while 24 per cent of respondents will spend less and 19 per cent will spend more.

"Although this Christmas may be one of the toughest in decades, retailers have been toughing it out for most of the year," said Tarlok Teji, head of retail at Deloitte. "We think the talk of Christmas being cancelled is overplayed. Whilst total planned spend including socialising may be down, the majority of consumers intend to spend the same as last year.

"Retailers will need to understand their consumers better than ever and offer relevant products to take a share of the Christmas wallet."

On average, consumers are planning to spend £655 on gifts, socialising, food and drink this year. This is seven per cent less than last year and, when compared to the seven per cent growth the year before, could be interpreted as a 14 per cent drop in confidence.

However, Richard Hyman, strategic advisor to the retail practice at Deloitte, believes it is unlikely that actual retail sales will fall significantly.

"Broadly speaking, we believe sales will be flat this Christmas with a slight fall possible."

One segment of the population is planning to buck the spending trend, however, with 36 per cent of 16 to 24 year olds intending to spend more. 49 per cent say they are going to have a good time at Christmas and worry about the cost later.

Related

Featured Jobs

Historic Royal Places Job Logo 620 x 349

Licensing Executive

Historic Royal Palaces (HRP) is a successful, high performing organisation built on strong foundations. An independent charity, we manage the Tower of London, Hampton Court Palace, the Banqueting House, Kensington Palace, Kew Palace and Hillsborough Castle in Northern Ireland. We help everyone to explore the story of how monarchs and people have shaped society in some of the greatest palaces ever built.

Universal Job Logo 620 x 349

Senior Graphic Designer, EMEA - Consumer Products

Working in tandem with the Product Development team and reporting into the Design Manager EMEA, the purpose of this role is to drive forward our creativity across all licensed consumer products. As part of the creative team, you’ll be developing exceptional creative assets and product concepts for numerous NBCUniversal franchises that inspire licensing partners across the entire region.

Aardman Job Logo 620 x 349

Brand Manager (Maternity Cover)

Part of the brand team, The Brand Manager works closely with several members of the department, including Studio Publicist, Community Managers, Licensing, Sales and Attractions and Live Experiences teams to implement local and international strategies in the form of brand plans and maximising on all activity surrounding the properties.

Vivid Job Logo 620 x 349

Digital Marketing Executive - Toys & Games

Vivid is Britain’s biggest toy company and the 20 largest in the world. With offices across the globe, they sell an amazing portfolio of toys and games to over 60 countries. Vivid is best known for its association with blockbuster brands and is very excited about future opportunities around the world.