Britons to ignore election and carry on shopping in December
today Nov 21, 2019
A new survey has found that UK shoppers are more concerned about rising food and energy bills than the upcoming general election, with 57% saying political uncertainty will have no impact on their Christmas spending this year.
Next month, Britons’ political concerns will take a back seat to gift shopping, especially given that the general election will take place only two weeks before Christmas.
According to a report from Accenture, 47% of shoppers will be buying presents in the last weekend before Christmas, while only 37% is planning to bag a bargain on Cyber Monday. 42% prefers to leave it to post-Christmas and Boxing Day.
The good news is that 87% of Britons will spend the same or more than they did last year. Younger shoppers are driving the trend, with 45% of Millennials and 38% of Gen Z looking to spend more this festive season.
Clothing retailers, children’s toy stores and restaurants will benefit from the increased Christmas budgets, said the report.
Andrew Carlisle, retail consulting lead at Accenture UK&I, said: “There’s no doubt that it’s been an incredibly difficult year for retailers. There have already been more job losses and more store closures than 2018 – with the year not even being up yet. But the high street gloom doesn’t seem to have dampened shoppers’ spirits this festive season, buoyed by younger consumers planning to spend big over the holidays.
“What’s more is that spending for UK shoppers isn’t centered on a particular day, suggesting that the retailers that can sustain consumer interest beyond the key moments of Cyber Monday and Black Friday are set to benefit the most.”
Environmental concerns are expected to impact how Britons approach gift giving this year, with 53% of shoppers welcoming second-hand gifts and over a third considering renting clothing instead of buying.
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