caution
Consumers will be spending less money on Christmas overall this year and making more considered purchases, due to the cost of living crisis. Sean Hannam unwraps the latest trends and looks inside.
UK consumers are expected to buy fewer and cheaper items this Christmas – especially online – as the cost of living crisis forces many to rein in their festive spending. In a report by The Guardian, Nick Gladding, lead retail analyst at
GlobalData, said: “Sharply higher prices mean shoppers will spend less in real terms than last year, choosing either to trade down or trim the number of presents they buy. “Last year sales growth was supported by shoppers spending savings built up during the lockdown. But with those savings now depleted by cost of living increases and mortgage rate hikes, consumers are likely to shop more cautiously and more savvily.” This view is echoed by Salah Sun, head of product at Beko
UK and Ireland, who tells Alert: “The GfK Consumer Confidence indicator in the UK hit -25 in August this year, demonstrating that consumers are spending more cautiously due to the cost-of- living crisis. “At Beko, we expect that this might be reflected in our sales during the festive period, as consumers will be spending less money on Christmas overall. However, our range of high-quality, affordable products that are equipped with cutting-edge technology offer consumers added value.” BSH is confident for the festive period – Steve Green, director of small electricals, says: “We anticipate a strong peak season, as the replacement market has remained robust for essential products. “However, non-essential purchases have been affected, as consumers are now taking more time to consider them due to the increased cost of living. “This has led to some people deciding to delay their purchase.
36 Christmas Gifting Feature
“Nevertheless, I believe that Christmas trading will be similar to previous years, as individuals still desire to indulge themselves and others.”
The new Siemens TQ907GB3 fully automatic coffee machine
Wellbeing So, what will be on shoppers’ Christmas lists this year? Miele’s kitchens manager, Tom Hopper, has some ideas: “Consumers are looking to purchase timesaving products that increase comfort and wellbeing at home. “Household SDA items like luxurious coffee machines for an
at-home barista experience make excellent gifts for those who love coffee. These types of gifts also help the receiver save money in the long run - no more trips to the local café required. “December is also a strong month for dishwasher sales, as consumers look to prepare for a busy month of entertaining.”
Christmas
Ahead
Christmas Gifting Feature
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44
