British spending falls this Christmas, Ferratum research reveals

by | Dec 21, 2016 | News | 0 comments

Christmas spending is set to drop dramatically this year, revealed in the Christmas Barometer 2016? from Ferratum UK. In 2015, Brits were planning to spend 39% of their disposable income on Christmas, whereas this year the figure has fallen to just 23%.

According to the largest international Christmas survey of its kind, this leaves Brits far behind the highest Christmas spenders in Germany (31% of disposable household income), Lithuania (30%) and Estonia (29%). The UK comes 9th in the list of Christmas spending, with the Netherlands set to spend the least amount of their disposable household income on Christmas this year (11%).

British consumers are set to prioritise buying new clothes (19%) and toys & games (16%) in their Christmas shopping.

Whilst the UK?s spending has dropped, British consumers are the most likely to spend online this Christmas. 41% of all purchases in the UK will be made online, compared to the average of 25% across the other countries.

Tony Gundersen, UK country manager for Ferratum Group commented:??This year?s Christmas Barometer result highlights that with all the uncertainty surrounding the UK economy many consumers intend to tighten their belts, which has resulted in a predicted down turn in average spending.

This could be due to a few factors, including the ongoing ramifications of the UK?s vote for Brexit, which has already resulted in some prices increasing in store. However, the strong appetite for online shopping, combined with the intention to spend less this Christmas, may also be a sign of savvy shoppers in the UK seeking bargains online and taking advantage of high-profile online sales days such as Cyber Monday.?

more latest news ➡

Bradford garden centre group wins award

Bradford garden centre group wins community award

The team at a Bradford-based garden centre group is celebrating after winning a regional business award. Yorkshire Garden Centres, owner of Tong, Tingley, Bingley and Otley Garden Centres, won the Community category of the Yorkshire Post Excellence in Business...

Feverfew launched new gardening apparel for women

Meet the supplier: Feverfew Garden Co

Taking the gardening glove market by storm, Feverfew Garden Co is the UK’s first garden wear brand exclusively designed for women, by women. Garden Centre Retail catches up with Rachel Eunson, the driving force behind the brand. As with many recent ventures,...

HSBC economist

Ex HSBC economist to speak at GCA conference 2024

Former HSBC Head of Economics will be helping delegates at the Garden Centre Association’s (GCA) annual conference understand the resurgence of inflation and the challenges that it continues to bring (January 28 until 31, 2024). Mark Berrisford-Smith, who worked...

Primeur Whiskey Barrel

Primeur launches new range of recycled planters

Looking to the 2024 season, garden retailers can step up their sustainability game and enhance their outdoor offer with a brand-new Primeur range of recycled planter designs and colourways. If you are keen to stay ahead of the curve and meet the increasing demand...

Sustainable pest control launched on GROW platform

GCA GROW launches sustainable pest control course

Garden centre staff can now gain knowledge to help customers to deter and combat pests in a more natural, sustainable way via the GCA GROW (Garden Retail Online Workshops) e-Learning platform. The organisation has launched its new Sustainable Pest Control course....

Rising stars with Gordon Emslie

Rising Stars finalists announced

Five individuals from GCA member garden centres have reached the finals of the industry body’s Rising Stars programme sponsored by Westland Horticulture. The staff were put forward by their garden centres and took part in a series of workshops this year. GCA...

Read GCR's latest edition!

Subscribe ToThe Wednesday Word

Subscribe To
The Wednesday Word

 

Get all the latest news, events & more straight to your inbox every Wednesday.

You have Successfully Subscribed!

Pin It on Pinterest

Share This