40% spending less this Christmas despite better economy

Even though many will have a larger stash of golden coins this Christmas, 40% of Brits plan to tighten their purse strings in the lead up to the festive period, according to new data.

According to a survey of the nation’s shopping habits, “prudent” spending has “become the new norm”.

The report by Shoppercentric surveyed 1,000 UK shoppers and found that Brits are undeterred by the positive economic growth reports being harpooned by the government.

Perhaps this has something to do with the fact that 60% of shoppers continue to experience rising living costs, and 14% are facing pay reductions or redundancy, the report highlights.

Danielle Pinnington, Shoppercentric’s managing director, said: “Retailers and brands won’t be able to rest on their laurels this year and expect the festive spirit alone to work its magic.

“It’s a make-or-break season for many businesses and with shoppers looking to squeeze the most value from their Christmas spending and make every penny count, retailers.

“Brands will need to earn their custom through keen pricing, genuine added value and by proactively communicating and selling to potential shoppers and consumers at every opportunity.”