Shoppers are planning to spend the same or more on Christmas this year when compared to 2011, according to a new study by HSBC.
One-fifth of shoppers plan to spend more this Christmas while half expect to spend the same as they did last year, a new HSBC report has revealed. Just 17 per cent of those surveyed said they were planning to spend less than they did last Christmas.
Just 9% of Londoners said they were planning to cut back on spending this year; this compared to around one-fifth of shoppers in the East Midlands, West Midlands, eastern England, the South East and the South West.
Typical spend on Christmas this year will reach £526 – £374 on gifts and £179 on groceries and entertainment. Consumers living in Wales are expected to spend £656 on average while people in Scotland will spend £515 on average.
Almost one-third of shoppers admitted they were planning to use discount vouchers (31 per cent) or points from loyalty schemes (29 per cent) to make their budgets stretch further this year.
With so many shopper planning to go online to do Christmas shopping this year, retailers and manufacturers can use this Internet activity to gather pricing intelligence and using this competitor monitoring data to grow sales and profit margins in this very competitive shopping period. (Oct 30)
© 2012 Profitero
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Pricing intelligence company Profitero provides retailers with actionable price intelligence data, monitoring over 50 million products across 4,000 eCommerce retailers every day, observing pricing, promotions and stock availability. We work with the world’s leading retailers, enabling them to acquire new customers and grow profit margins by monitoring and responding to changes in competitor pricing and promotional activity as they happen. For more information on Profitero price intelligence and competitor monitoring, visit www.profitero.com or email sales@profitero.com
