Retailers should expect a modest sales increase in the days leading to Christmas, according to new figures by tax and advisory consultants PwC.
The firm predicts consumers will spend as much as £24.6 billion on gifts and events this festive period, an increase of 3.5% on the same period last year.
The PwC research, which was published today (12 December), said the average Christmas spend per UK adult would increase to £461.
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The top purchases will likely be food and drink and health and beauty items, said the data.
Yesterday (11 December), tax and consulting firm RSM UK, said consumers they surveyed would opt to double-down on saving in favour of spending.
RSM’s quarterly Consumer Outlook survey found that if given a £5,000 windfall this week, nearly 60% of consumers would choose to either save it (38%) or pay down existing debt (19%).
Only 8% would spend it on Christmas presents.
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