Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Asda says UK will spend less on Christmas

Asda has predicted that Britons will spend almost £300 million less in the run up to Christmas as a result of low consumer confidence.

Asda, which commissioned the Centre for Economics and Business Research (Cebr) to carry out the survey, expects the UK to spend £10.6 billion in November and December, a drop of £278m on last year.

Asda added that £399 will be spent per family, down from £413 last year.

Up to £2bn will be spent on clothing, which will account for £76 of additional spend per family over Christmas.

Andy Clarke, Asda retail director, said: "Although the overall predicted spend is slightly down on last year, retailers still have a lot to play for in the run up to Christmas. The winners will be those that focus on delivering real value for money, those who don't will lose out."

Doug McWilliams, chief executive of Cebr, added: "It could be worse – we expect inflation to contract sharply in the next months providing some relief for hard-pressed Christmas shoppers. Furthermore, consumers will continue to benefit from strong price competition among supermarkets."

He added: "Finally, although it will take some time for the full impact of the Bank of England rate cut to feed through, it may help to prop up battered consumer confidence in the run up to Christmas."

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.