It’s fair to say that we all feel the financial strain of Christmas in the new year. It seems that even UK retailers are still recovering from festive spending according to a report by Global Data.
According to the Global Data report, retail spending bounced back in the UK in December 2018 after a tough November as GlobalData’s total retail index rose by 11.5 points versus the previous month, as consumers finally purchased Christmas presents and other seasonal items.
The company’s latest report ‘UK Monthly Spend Tracker – December’ reveals that despite improved spending in December, many retailers started their sales before Christmas to drive revenue and clear through stock. Signifying the wider trend in retail, Next experienced a rise in full price sales from mid-December as financial uncertainty led consumers to wait until December payday to complete their Christmas shopping.
Speaking of the report findings, Emily Salter, Retail Analyst for GlobalData commented: “December saw uplift in instore spending in particular as the instore retail spend index increased by 12.1 points versus November. Consumers’ worries around online orders being delivered in time for Christmas lured last-minute shoppers to physical offline locations.”
Salter continues by saying “Looking ahead, although the festive spirit improved consumer sentiment surrounding the economy and personal finances in December compared to November, this slightly increased optimism is unlikely to continue into January, particularly due to the persistent uncertainty of Brexit.”
Never mind, with February right around the corner, for many it’s almost payday! Hurrah!