// Retailing during this year’s festive season is expected to bounce back with 8% year on year growth according to Mastercard SpendingPulse
// Clothing and Jewellery is forecast to be the biggest drivers of increased spend
UK retailers are gearing up for a strong uplift in sales this holiday shopping season.
According to Mastercard SpendingPulse™, which measures in-store and online retail sales across all forms of payment, UK sales are expected to grow by 8 per cent between November 1 and December 26 compared to the same time period last year.
As we enter the new normal post pandemic, the move to shopping online is expected to continue, ecommerce sales forecast for November and December are expected to climb 35 per cent compared to the same season in 2019.
Spend on clothing is set to increase 11 per cent year on year as Brits prepare to look their best at Christmas parties as they make up for dampened celebrations last year.
Looking at online sales exclusively, a 32 per cent increase year on year in clothing sales in expected, which is a 71 per cent increase on 2019.
Home Furnishing sales also look to increase 8 per cent on 2019 pre-pandemic levels – however again taking just online sales, shops can expect to see a 46 per cent increase over the same period.
Mastercard stated that this ties into the of returning to socialising and parties for friends and families at home in the run up to and during the holidays, with grocery spending also expected to see an uplift of 6 per cent year on year.
“The weeks leading up to Christmas have always been key for retailers. According to our SpendingPulse forecast this window in 2021 is set to bounce back strongly for UK shops,” said Mastercard UK & Ireland divisional president Kelly Devine.
“Hopes of a more normal festive period brings an air of excitement as people start to get into the holiday spirit and look forward to in-person events that most were unable to enjoy last year.”