Analyst predicts £12bn last-minute Christmas spend
By Retail Technology | Monday December 16 2013
Christmas shopping is expected to peak later than ever during the coming weekend with Verdict Retail predicting nearly a month’s retail sales in a matter of days
Retail analyst Verdict is predicting the four days from Friday 20 December will be the most intense of the festive trading season, bringing £12 billion in sales into retail coffers.
In line with other predictions, which highlight growing confidence in online and click & collect sales, the industry analyst pointed to the fact that a mid-week Christmas has given UK consumers extra days off early in the week to complete their shopping.
Retailers ready for last-minute sales opportunities
Andrew Stevens, Verdict’s senior retail analyst, told The Telegraph newspaper yesterday that UK shoppers spent £17bn overall in October, putting his £12bn prediction for this weekend into context. “It’s a huge amount,” he said.
“People have been putting things off to see if they can get a bigger deal, but also you have the fact that the 23 [December] falls on a Monday,” he added, as retailers begin to introduce discounts to capitalise on the last-minute rush.
The forecast follows Verdict's prediction earlier this year that consumers would spend £2bn more this Christmas than compared to the last.
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