Christmas Gift Buying - UK - February 2020
US $2,552.20 (Excl.Tax)Excl. Tax Buy Now
The build-up to Christmas 2019 presented retailers with a unique set of challenges. Brexit uncertainty, both prior to the initial October deadline and then the general election of December, combined with a later-falling Black Friday placed a greater focus on value and conservatism in spending from consumers. The result was the lowest growth in value terms (+1.9%) since 2015 and a fiercely competitive environment where much of the demand was served during Black Friday or on promotion.
“A combination of political and economic uncertainty, a later-falling Black Friday and continued growth in online created a uniquely challenging trading environment for retailers to contend with in 2019 and produced the slowest growth within the sector for four years. Whilst some elements of the lead-up to 2019 were, hopefully, one-offs, the changing attitudes towards gifting during Christmas are not, which poses longer-term challenges for those tapping into Christmas gift giving."
– Nick Carroll, Associate Director of Retail Research
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