With lockdown lifted in England and the UK returning to tiered restrictions, most non-essential retailers have reopened their doors in time for critical Christmas trading. Despite the prospect of a scaled back festive period, new analysis from PwC shows UK shoppers are still preparing to spend £384 each on Christmas presents and celebrations.
Nearly half of us, 46%, are intending to stay at home with immediate family rather than host or visit extended family over the holiday season- more than double that of ‘normal’ years. This key trend means there will be a decline in average spend, falling around £30 this year, across all age ranges and all regions. However, Christmas remains an important retail event with consumers intending to spend around £20bn.
Despite all the uncertainty this year, only one in five are actively looking to reduce what they spend on Christmas and of those, for less than half, 43%, it is a result of having less money. With smaller celebrations planned we are seeing fewer people, entertaining less at home, and have fewer gifts to buy.
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