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Get your free copy20 October 2016, 13:39 PM
- Mintel expects that total UK retail sales will reach £42.4 billion in December 2016
The new research from Mintel reveals that as many as one in five Brits plan to shop online more for Christmas 2016. The top three reasons why shoppers went online for gifts last year were to get cheaper prices, to avoid the crowds and to shop when it suited them.
It also showed that consumers are keen bargain hunters, as almost three in five UK gift buyers agree that promotions available mean that they don’t need pay full price for gifts. Black Friday and Cyber Monday kick-start the Christmas promotion season. Mintel reports that in 2015 the discounting days boosted November retail sales by 1.5% to reach £440 million. According the the research, one in five Brits bought gifts online and one in 10 ventured in-store on either of these days in 2015. 55% bought things that they would normally have waited to buy in the January sales and 26% held off spending ahead of the Black Friday and Cyber Monday promotions.
Richard Perks, director of retail research at Mintel said, “The economic background for consumers continues to be favourable. Real incomes are rising and unemployment is falling. There are some worrying signs though. Consumer credit has risen back to record levels and the housing market has weakened a little but overall, the prospects for Christmas remain good.
“When it comes to Christmas shopping, it is increasingly artificial to make a distinction between online and in-store as the two increasingly are working together to suit shoppers’ needs. We are seeing pure players recognise the advantages to having a physical offering, signified by Amazon and Zalando’s interest in moving to the high street. At the same time, a number of high street retailers now price match against online retailers, trying to fight back against the continued belief among shoppers that it’s cheaper to buy online.”
