Christmas shopping budgets in the UK are expected to increase by £6 compared with last year to £567, new research has shown.
UK consumers intend to spend an extra 1.3% over Christmas 2019, Deloitte’s 2019 European Christmas Survey indicates. They remain the highest festive spenders in Europe this year: the average European budget is an anticipated €461 (£395).
The majority of UK shoppers’ budgets are set aside for presents (£299), followed by food and drink (£143), socialising (£63), and travelling (£62) over the party season.
More than one-third of consumers intend to buy presents in November, but just 2% of consumers intend to buy most of their gifts on Black Friday.
Ian Geddes, north and south Europe head of retail at Deloitte, said: “UK consumers are entering the festive season in a cautious mood, with the average budget set to rise by a slender £6 compared to Christmas 2018. That said, economic fundamentals remain strong, with real wages high and unemployment low.
“Additionally, many consumers are refusing to have Christmas spirits dampened by Brexit fatigue, in the context of ongoing delays. Our survey reveals 44% will in fact spend more to enjoy the festive period and ‘avoid thinking about the macroeconomic environment’.”