Christmas is coming… and believe it or not, this will be the third Christmas we’ve spent in this cost of living crisis.
Although we are seeing inflation slowing down, many people across the UK are still struggling and looking for ways to cut costs.
How do you think shoppers are feeling heading into Christmas? What does this mean for your categories and your brands? Let’s jump in.
Savvy saving strategies 🛍️
83% of Brits say price is the number 1 factor in their Christmas shopping decisions this year, as shoppers expect to spend more than usual. 72% of us say we have budgeted more for Christmas food and drink than usual.
With an average budget of £472 for gifts, many of us are on the hunt for meaningful yet budget-friendly presents. FMCG and grocery brands can be a great solution for those affordable but thoughtful gifts.
A growing number of shoppers (40%) are planning to start their Christmas shopping earlier than usual.
Early deals and promotions are going to be key, especially when we couple that with the fact that grocery promotions are at their highest rate since June 2022.
As we see more retailers follow Tesco’s lead offering savings for loyalty card holders, it can risk driving less loyalty and offering more rewards for those who shop around with a wallet full of “loyalty cards”.
Omni-channel is key this Christmas 🛒
75% of consumers plan to do their Christmas shopping in-store this year. Shoppers are open to trying new things, so it’s a key time to compete for that standout in store.
But that doesn’t mean we can forget about eCommerce. UK consumers are set to spend a staggering £17.9bn online this Black Friday and Christmas, so make sure your online activation is just as strong as in store!
Even if we're not buying online, it plays a vital role in our research. According to an IGD survey, 58% of us will take more time to compare prices than usual this Christmas.
Being present and easy to find on Amazon is key to winning at Christmas.
88% of us use Amazon to research products, and it's the most popular choice for online research and shopping in the run-up to Christmas.
Resale sites are also on the rise, they are an increasingly popular way to make more sustainable choices for gifts and outfits for the Christmas party, in fact, 32% of Millenials and Gen Z shoppers bought secondhand clothing last year.
What are your plans for Christmas?
As always, get in touch if there is anything we can do to support you or your business.
Stay safe, well and positive!
Ella
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