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The average Brit will spend a total of £1,371 in the first six weeks ChristmasThat’s despite a third of people saying they are feeling worse financially this year, according to a new survey.
Present-day purchases are expected to be worth around £443 per household, particularly this winter Expenditure Contribution of an extra £316 per household on food and drink – both figures are up on last year.
Excessive Wealth That total of more than £1,300 includes travel, ex-Christmas Paying for work or family outings, vacations, and other related expenses.
Data from a 2,000-person survey by GlobalData for Vouchercodes also shows that only 9.8 percent – less than one in ten – say they feel “much better” when it comes to. Wealth This year.
It also revealed that one in five (21 per cent) are planning to dip into their savings for Christmas-related spending, while a similar number (20 per cent) expect to use credit cards for this. overall, brits It is expected to cost £91.1 billion over the six-week period.
It comes as the latest retail data from the Office for National Statistics (ONS) showed that retail sales volumes in the UK unexpectedly rose by 0.5 per cent in September, despite earlier predictions of a fall.
Coupled with earlier retail data this suggests a better than expected recovery for the high street in the most recent quarter, ahead of the all-important Christmas period.
Hannah Finselbach, senior statistician at the ONS, said retail sales “grew sharply in the latest quarter and were at their highest level since summer 2022. Although food stores saw little growth, good weather in July and August boosted clothing sales, while online retail sales also remained strong.”
Tech sales and online jewelers also saw strong demand last month.
Aled Patchett, retail expert at Lloyds, said: “Back-to-school and back-to-work shopping in September is likely to provide an additional boost to retail sales, and the fourth month of rising sales points to an encouraging underlying resilience.
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“With Christmas approaching as well as the upcoming autumn festivities, retailers are firmly focused on the key end-of-year trading period.
“With buyers prioritizing value, brands are refining product lines, investing in further operational efficiencies and carefully considering pricing and promotional strategies so they can maximize competitiveness while maintaining margins.”