22nd November 2013
Britons are set to flash the cash during the festive season and spend 12% more on their Christmas shopping this year than they did in 2012.
According to new research from Santander, consumers will also up their online spend this year where just over one pound in every three spent, at 34% will take place in cyberspace, with 25% going to online retailers and 9% to eBay or other online auction sites.
This just exceeds the intended spend on the high street, which will account for 33% of all Christmas shopping; 20% in individual high street shops and 13% in department stores.
However, supermarkets are set to be the biggest beneficiaries of festive spend, with consumers planning to spend 29% of their money there says the analysis.
In addition adults intend to spend an average of £175 on presents; a 5% jump on their intended spend last year. Expenditure on Christmas dinner is set to be almost £37 per adult, and £59 on other Yuletide food and drink – 41% higher than shoppers predicted a year ago.
Almost two thirds, at 64% of those who intend to do some of their Christmas shopping online say convenience is a key reason. Some 59% say they will shop on the web because they can find the same items for less money, and 35% because they believe there is more variety there.
One in three say they will internet shop because some things are only available online and one in four because they can take greater advantage of discounts through cashback or voucher codes. Some 22% admitted that they simply do not like shopping on the high street.
Alan Mathewson, CEO Santander Cards says: “Our findings suggest an increase in consumer confidence over the past 12 months, which is good news for both online retailers and the more traditional high street. Shoppers are clearly still looking to get more for their money, however, with large numbers of them using a range of techniques such as bartering in-store with prices they have found online, or looking for cashback deals.”