Shoppers are predicted to spend £22.2bn over the Christmas period – 2.6 per cent up on last year, according to the IGD.
Vanessa Henry, shopper insight manager, said: “Despite some concerns about costs, shoppers still see this time of year as the main chance to treat themselves and their families. But this doesn’t necessarily mean spending more.
“Our research shows us that shoppers are being savvier with their spending to ensure they don’t have to sacrifice on quality, with more shopping around at several stores to seek out the best deal as opposed to buying cheaper products. We’re also seeing shoppers trying to get ahead of the season’s spending by starting their purchases earlier in the year to spread the cost.”
Shoppers are more likely to shop around for the best prices than trade down, with just under half of shoppers (48 per cent) planning to shop in a number of stores this Christmas and 43 per cent saying they will spread the bulk of their food and grocery shopping across several different trips to a range of stores in the lead-up to the big day. This compares with a fifth (21 per cent) who say they do a big Christmas shop, visiting one store to get the majority of their shopping in one trip.