Originally published: Talking Retail, 22 October 2024
New research conducted by global data and insights company, Pureprofile Limited, reveals that half of UK households (47%) do not expect cost of living pressures to affect their Christmas spending this year.
This compares to 43% in 2023 and 35% in 2022, indicating a thawing of the post-Covid economic freeze.
Brits plan to spend an average of £362 on gifts – up 10% from last year – and £317 on festive food and drink, up nearly 60%, in part reflecting higher costs.
However, one third (32%) expect they will spend less this Christmas, buying fewer presents and finding cheaper food alternatives.
