Christmas Countdown Survey: Over a third of consumers expect to spend less this Christmas
Our final Christmas Countdown Survey reveals that 17 per cent of shoppers are still yet to start their Christmas shopping. The findings also showed that 27 per cent of consumers are expecting to spend more this Christmas than last year with 34 per cent expecting to spend less. 36 per cent of consumers still need to buy presents for their partners.Source: Retail EconomicsOf those consumers who still have Christmas shopping to complete 80 per cent suggest they won’t do anymore online shopping.With just two days to go before Christmas, half of consumers said that they are either "a bit nervous" or "panic stricken" with the amount of time left to complete their shopping.Source: Retail EconomicsRichard Lim, Chief Executive, Retail Economics said: “With just two more shopping days remaining before the big day, a remarkable 17 per cent of consumers are still yet to start their Christmas shopping. The extra shopping day this year could mean a surge of panic buying on Christmas Eve. "That said, over a third of shoppers said that they will spend less this year on present buying than last year. Concerns about rising inflation, weaker wage growth and a tougher economic climate in 2017 could undermine Christmas spending this year. "The further shift in online spending is likely to define the winners in retail this year. Shoppers’ expectations for a seamless omnichannel experience has never been more demanding."