We will have only just blown away the cobwebs of Halloween and turned the pumpkin into soup – and Christmas will be upon us!
So just a timely reminder to take a view of what cash and coin you are likely to need and ensure your orders are booked in because, according to a number market research sources, some consumers started planning for and preparing for Christmas as early as July – driven by the need to budget carefully and find the best deals and bargains.
As Brits continue to face increased living costs, Christmas shoppers will be looking for ways to keep the costs down, so value will likely remain at the top of the agenda for consumers.
In 2022, almost half of Christmas gift buyers bought more on discount than they usually do, highlighting how promotionally driven the period was.
Mintel’s market research also found that the income squeeze encouraged people to start shopping earlier in an effort to spread the cost of Christmas, with many consumers utilising Black Friday deals or buy-now-pay-later schemes.
Here are some of the key facts from 2022:
The year-end months of November and December typically are dominated by shoppers scouring stores for deals and discounts on gift purchases. The winter months combined are a good barometer of the spending prowess of the consumer, and are critical for retailers, too, accounting for as much as a fifth of their annual sales.
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