PwC Analysis Predicts UK Shoppers’ Festive Purchases
- UK customers to spend an average of £420 on Christmas presents this year
- 35-44 year age bracket expected to spend the most at £522
- Scotland has the highest average spend at £454
- One in five consumers started shopping earlier this year, especially under 35s
- 20% of respondents plan to shop the week before Christmas
- Food and drink, children’s clothing prioritized over adult clothing and tech
- Sustainability trend affects consumer choices
- Click and collect growing in popularity for online shopping
- Overall spending levels similar to last year but priorities shifted
According to a new analysis by PwC, UK shoppers are expected to spend an average of £420 on Christmas presents this year. The 35-44 age group will spend the most at £522, while those in Scotland have the highest average spend at £454. One in five consumers began their shopping earlier than usual, with a higher percentage of under 35s doing so. About 20% completed most of their purchases during Black Friday/Cyber Monday weekend. The majority of shoppers plan to buy gifts in early-to-mid December, while 6% will shop the week before Christmas due to time constraints. Food and drink, along with children’s clothing, are prioritized over adult clothing and tech items. Sustainability is a growing trend among consumers, influencing their spending decisions. Click and collect services for online shopping are on the rise, including retailers’ stores, lockers, and manned collection points. PwC predicts retailers will see increased footfall before Christmas due to its Tuesday date this year. Despite concerns about consumer spending, overall levels remain similar to last year, with a shift towards essential items like food and drink.
Factuality Level: 8
Factuality Justification: The article provides accurate information based on a PwC analysis and includes relevant data about consumer spending habits during Christmas. The sources are cited and the information is presented in an objective manner without any personal perspective or sensationalism.
Noise Level: 6
Noise Justification: The article provides relevant information about Christmas shopping trends and spending habits of UK consumers, including age groups, regions, and popular categories. However, it contains some repetitive information and focuses on specific events like Black Friday/Cyber Monday and the day when Christmas falls. It also includes a prediction about single issue campaigns in advertising without providing much detail or evidence. The article could benefit from more analysis of long-term trends and actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: Retail sector
Financial Rating Justification: The article discusses consumer spending patterns and trends during Christmas shopping season, which can impact the retail industry’s financial performance.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of any extreme event in the article.
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