The Brexit vote will have no impact on Christmas spend from the majority of UK consumers, according to a survey conducted by PwC.
The Consumer Christmas Report indicate that despite this year‘s share of economic volatility as a result of the UK‘s decision to leave the EU, 67 per cent expect no impact at all on how much money they spend over the festive season – compared to 25 per cent who do.
“We‘ve seen UK consumers respond robustly to this year‘s political uncertainty and sterling weakness, as evidenced by the post-referendum retail sales figures,” PwC retail lead Madeleine Thomson said.
“Our survey results underline this resilience.”
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The report also found that the average UK adult expects to spend around £280 on Christmas gifts this year, while four per cent of consumers expect to spend nothing – whether it be because they don‘t celebrate Christmas or they can‘t afford it.
Meanwhile, 53 per cent of those surveyed said they would make their purchases online this Christmas, compared to 43 per cent in store.
“The survey, like our Black Friday and Cyber Monday research, also shows that consumers are adapting their shopping habits, by purchasing more online,” Thomson said.