A new report released this week from research and training charity IGD predicts that UK consumers will increase spend on food and drink this holiday season by 3.9% compared to last year, and are expected to spend £19 billion this Christmas.
The researcher’s ShopperVista study shows that Brits are more determined to find the best deals possible this festive period, and they will spend more time shopping around for the most lucrative offer and the highest product quality.
The Christmas research, which collected responses from 970 grocery shoppers, established that 58% of people will take more time to compare prices of products before buying one compared to last year in order to make the right deal. Another 41% will do so in an attempt to ensure they are buying products of the best quality.
In addition to Christmas gifts, food and drink have always been an essential part of Christmas celebrations, and for many people, the meal on Christmas Day is the most iconic meal of the year, IGD chief executive Joanne Denney-Finch commented. Although cautious consumers still hold back on big spending sprees, the improved outlook for the UK economy seems to help increase their confidence, she said.
Consumers’ growing confidence is evident from the fact that 72% of shoppers said they have budgeted more for Christmas food and drink, compared to 64% the previous year.
Retailers have taken measures to improve shoppers’ journeys to their stores, coming up with more imaginative merchandising, enhanced use of fresh food counters, and roll-outs of “click and collect” services.