Christmas sales to suffer as shopper savvy increases

06/11/2009

Recession-hit Brits will ease their personal income worries by spending frugally this Christmas, a new report has shown.

Research firm Deloitte suggested that this year's festive sales will be "flat" for retailers, as customers reprioritise their spending.

A poll of shoppers show that essentials such as food and other groceries have not been subject to cutbacks, with four in five still spending the same or more than before on the items.

However, a significant minority (45 per cent) are now spending less than they were on clothes and 50 per cent are spending less on entertainment and leisure.

A similar number (52 per cent) also said that their retail habits have changed for ever.

Tarlok Teji, UK head of retail at Deloitte, played down the influence of the credit crunch in the trends.

"Talk of a 'new consumer' in our view is over done," he said.

"The digital age has made information available 24/7 and now, anyone with the internet has the ability to research products, prices and opinions and with mobile technology this can be done on the go. This has created an unprecedented level of transparency."

Tags; Budgeting Advice, Young Family Finances, Retirement Money Problems,

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