The general election and political instability will have no significant impact on consumer spending this Christmas, new research shows.
In a survey by professional services firm Accenture, 87% of UK shoppers said they planned to spend the same or more compared with last year, while 57% said political uncertainty will have no impact on their spending plans.
Young millennials and Generation Z shoppers are the most bullish: 45% and 38% respectively plan to spend more this festive season.
Andrew Carlisle, retail consulting lead for Accenture UK and Ireland, commented: “There’s no doubt that it’s been an incredibly difficult year for retailers. There have already been more job losses and more store closures than 2018 – with the year not even being up yet.
“But the high street gloom doesn’t seem to have dampened shoppers’ spirits this festive season, buoyed by younger consumers planning to spend big over the holidays.”