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Get your free copy13 October 2008, 20:24 PM
- Latest research has revealed that at least two-thirds of shoppers plan to spend less money this Christmas this year than they did in 2007.
A poll conducted by GfK Research Panels found that 36% will not spend as much in the run-up to the festive period, with 26% adding that they plan to splash out a little less. These findings come after GfK NOP discovered consumers plan to spend the same on food and drink during the end-of-year celebrations as 12 months previously.
However, there are still a few who will not be tightening the purse strings this year. Just under a third surveyed (29%) will be spending the same amount during the festive period compared to 2007 and three percent are actually planning to spend more than last year, showing there is still hope for retailers.
James Rudd, Commercial Director at GfK, says: “Christmas is a very important period for retailers and it seems that shoppers are going to be more wary when purchasing this year compared to last year. Retailers will be crossing their fingers and hoping for a strong sales period despite the current economic climate.”
