Over the past few days there have been several reports released on how the economy was over the festive season.
Yesterday, it was announced that the UK saw a growth of 0.8%. Sales were also increased this year in comparison to last year, but the value of the spend was down. Could it be that people are saving what little money they have and economised as much as possible over Christmas?
Christmas is a time where we all over indulge. Normally we spend way too much on gifts and treats for over the festive season and this year we bought more than last year, but still managed to spend less! Is that because prices have dropped? Is it because we’re sale savvy or is it because we’re simply buying slippers instead of designer heels?
Many of you told us last year that you were economising as much as possible because now that you have some extra money coming in, you’re keeping a hold of it. We definitely saw a change in how people shopped over 2013 which begs the question. Did you shop on the high street or online?
Most retailers now have an online presence and in many occasions offer ‘online only’ deals. According to economists, the UK shopped more online than ever before, but a lot of you told us that you waited until the last minute and then went in store to see if there were any last minute bargains to be had.
Budget friendly stores such as Primark saw sales increase hugely with a record increase of 14% across Europe.
Our purse strings are firmly tied, and it looks as though yours are too! one way to overcome the over spending at Christmas time would be to prepare early.
In summer 2013, we put together a great guide on ways to prepare for Christmas early. Click here to read it!