What's in store for retail spend this Christmas period?
With consumer confidence on the rise; CPM UK share results of a market research study undertaken around Christmas retail predictions and what and where consumers will be parting their cash in the build up to the Christmas period.
Over the past 5 years, consumers have been starting their shopping earlier and earlier for Christmas and most expect to see the tinsel shortly
after Halloween so the opportunity to steal some early sales are definitely there
Christmas gift spending is still high with consumers spending an average of £345 on gifts with over 35% predicting to spend £500 or more – buying for the kids still takes the highest share of this closely followed by ‘the wife!’. But it’s how they are spending this that’s continually changing. On-line sales are still going strong but consumers are buying more gifts than ever ‘on the go’ from smartphones and tablets so the challenge for brands is not just securing the sales both in-store on-line but also influencing heavier what people look to buy – and friends and family are still our first choice for recommendations
The good news is – we still all love a good party – with over £250m of spending on office parties alone. And whether we are glamming up or splashing out on great food and drink the efforts consumers go to during party season continue to grow. Over party season we spend 40% more on drinks and the average spend on clothing, make-up and skin care is over £70 (with men spending an average of £6 more than women!) so the opportunities for brands in all these areas to get on the all important party list are still strong
But what’s happening on the big day itself? It continues to be stressful and a time consuming event with the average mum spending up to 11 days preparing for the family dinner and then over 6 hours on the day itself making it. In those 11 days of planning she is looking for inspiration and solutions to make this a truly memorable event out doing last year’s efforts with even more food and drink to deliver the average 7000 calories we all consumer on Christmas Day.
But the days of us eating our own body weight in turkey and chocolates and then fallingasleep in front of the TV are changing. Family lethargy is replaced by online shopping, hunting for sales that start earlier and earlier with over 6million on-line transactions last year alone. So whilst we all gear up for the big day itself it feels we should all be looking at how we gear up beyond this to capture the next phase of consumer spending
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