More than six in ten consumers assume their funds for Christmas would be the similar as final yr, although family funds are being squeezed.
A survey by retail analysts at NielsenIQ confirmed 63% had been planning to spend the equal quantity as they did in 2021 on food and drinks (together with eating out), items, and journey.
But simply 10% predict they are going to fork out extra this Christmas and 27% count on to cut back their expenditure – suggesting the value of residing disaster is influencing consumers.
Alwyn Venter, senior industrial enterprise accomplice at NielsenIQ, stated: “The majority do not want to give up the usual traditions and spoil themselves and their loved ones with gifts and good food.
“At the identical time, the funds for the festive season has remained the identical and even decreased for most individuals.”
“Consumers are aware of how important it is, therefore, to make the most of their budget, for example by shopping early and taking advantage of special offers.”
The survey of 1,000 folks, carried out in September, additionally discovered cheese, bread and chocolate had been the highest three meals classes to purchase this Christmas.
54% of these questioned stated that emotional elements of Christmas, like celebrating with household and buddies, are essential.
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The research is in distinction to a current survey of 24,000 customers throughout Europe about their monetary scenario, with six in ten altering how they spend cash, together with reducing again on meals out.
That’s been influenced by larger vitality and meals prices which have tipped UK inflation to 11.1% – its highest stage since 1981.
Source: information.sky.com”