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High street braced for gloomy Christmas

The UK high street is facing a disappointing festive season as concerns over Brexit cause shoppers to rein in their spending.

Data from the Centre for Retail Research commissioned by Voucher Codes shows consumer spending is set to rise by just 0.8% over the key peak trading period, the slowest rate of growth for three years. The annual Shopping for Christmas report also warns that consumer confidence has hit a 10-year low as amid Brexit worries.

The report said: ”Lower growth in 2019, a fall in consumer confidence before Brexit and lower expectations about earnings in November 2019 to December 2020 will probably cause shoppers to spend less.”

”If there is no Brexit deal, then Christmas spending is likely to be adversely affected. If lorries are stranded at ports, for example, economic life suffers immediately. In this instance, the growth in retail sales this Christmas in the UK may fall from 0.8 per cent to 0.2 per cent.”

Readers' comments (1)

  • darren hoggett

    There is still plenty of money out there up for grabs this Christmas period. But do all the retailers want it?

    With endless and counter productive discount - or as they are now called - 'promotional' strategies - profit will be given away at the time the consumer spends it most.

    This is not a credible long term strategy for any business, so hold firm to avoid a Christmas Turkey.

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