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Just hear those shop tills ringing as the UK is set to spend £88.4 billion this Christmas

UK retailers are set for their best Christmas sales since 2007 with £88.4 billion to be spent on the run up to the festive season.

Santa’s sleigh is certainly going to be filled with exciting gifts and toys this year with households preparing to spend on average of nearly £3,300.

A new report out today by Verdict forecasts spending in the fourth quarter would rise a 2.2 percent from the same period in 2012 to over 88 billion pounds – making it the best since 2007 when it grew by
3.1 percent.

A Baby boom, PPI, Housing market and Royal Mail flotation are all being hailed as a few of the reasons for the growth and with Christmas Day falling on a Wednesday, consumers can buy gifts with click and collect as late as Monday 23rd – Great news for all you last minute shoppers!

Online sales are once again set to grow, with the market research firm predicting sales to jump a huge 12 percent and with over 36 billion pounds being spent on food it looks like we are all going to have a very merry Christmas.

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Online stores such as Amazon UK and John Lewis are to be some of 2013 biggest winners when it comes to Christmas shopping, however with the countdown on, ‘Verdict’ have warned other companies without an online presence may not do as well.

Will you be spending on average £3,300 this Xmas and what do you think is the reason for the increase? We and others would love to read your thoughts and comments, please share them below.

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