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Get your free copy13 December 2010, 15:20 PM
- A third of 18-24 year olds plan to spend more on their Christmas meal this year than ever before
Over 32% of young adults intend to splash the cash on food this year – while 75% of the general public plan to spend more or the same on festive eats this Xmas.
The latest research conducted by IGD’s ShopperTrack shows a positive outlook for food retailers in December 2010. With a large percentage of shoppers planning to spend less on Christmas presents and more on celebratory food.
Joanne Denney-Finch, chief executive, IGD, said: “In this era of austerity we’re all watching the pennies.
“While shoppers are planning to spend less on presents and going out, their Christmas meal is regarded as the priority over the festive season and they don’t want the belt-tightening to spoil it.
“To respond to shoppers’ general thriftiness, food and grocery retailers and manufacturers need to demonstrate even more value to encourage shoppers to loosen the purse strings.
“They could also target their marketing at a younger customer base, as 18-24 year olds are the most likely to spend more this Christmas,” comments Ms Denney-Finch.
