Qualified advisers answering your
Financial Questions
call 0800 092 1245

Christmas belts start to tighten

Leading economists Deloitte have issued a report which suggests that on average the Scottish consumer will spend around £709 this Christmas which is a 16% fall from last year. The survey suggests that already there are serious signs that the Scottish consumer is looking to reduce retail spending and maintain their standard of living where possible.

Christmas is the major part of the year in the UK retail industry and recent reports from the likes of Marks & Spencer and the John Lewis Partnership suggest that this year will be amongst the toughest in living history. For the first time in over three years retail sales over the last 12 months have actually fallen in real terms with many expecting the situation to get worse before it gets better.

Those who are braving the retail market at Christmas will also notice that a number of retail giants have started to reduce their prices already to try and attract your attention and your money. Many retailers appear content to give away large chunks of their profits in order to at best maintain sales revenue and at worst ensure they live to fight another day. The next two months will be vital for the UK retail sector and consumers yet again seem to hold the trump cards.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details