Christmas scheduling

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.

So, what can we expect for Christmas 2023?

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:

• Christmas retail market size: In value terms retail sales were up 6% year-on-year, the strongest value growth seen since 2016.
• Christmas retail market challenges: Nearly 50% of Christmas shoppers bought more gifts on discount than they usually do, suggesting consumers are becoming more cautious about spending at Christmas and less inclined to pay full price.
• Christmas retail consumer behaviours: In 2022, 44% of consumers started their Christmas shopping earlier than September, indicating the shift to a more shapeless festive period.

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.