Today is officially the first day of Christmas for UK retailers with online retailers especially confident that this Christmas will mark a turning point in the online arena. Online retailers are expecting a £400 million surge today as consumers look to bag the best bargains ahead of the festive period with seemingly more offers and promotions available online than ever before.

While there is no doubt that the online arena has benefited from the ongoing recession, with reduced overheads and increased promotions, there is concern that the overall retail sector will see a marked slowdown in spending this year. The fact that more people are now spending money online will place more pressure on off-line retailers and we could see a number of well-known faces disappear in the New Year when the reality of what could be a very disappointing festive period begins to hit home.

Despite the fact that historically UK consumers have always "pulled out the stops" for Christmas, the sluggish recovery in the UK economy is set to hit spending in the short to medium term. The fact is that more and more people have less and less money to spend on "luxury items" and unfortunately many children will be disappointed this Christmas.

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