{"id":8188,"date":"2022-12-26T23:48:02","date_gmt":"2022-12-26T23:48:02","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/cost-of-living-shoppers-set-to-spend-less-on-final-day-of-christmas-shopping\/"},"modified":"2022-12-26T23:48:02","modified_gmt":"2022-12-26T23:48:02","slug":"cost-of-living-shoppers-set-to-spend-less-on-final-day-of-christmas-shopping","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/cost-of-living-shoppers-set-to-spend-less-on-final-day-of-christmas-shopping\/","title":{"rendered":"Cost-of-living: Shoppers set to spend less on final day of Christmas shopping"},"content":{"rendered":"

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\/\/<\/span> Consumers to rein in spending on the final day of shopping before Christmas<\/h6>\n
\/\/\u00a0<\/span>Sales on Christmas Eve are expected to drop to \u00a31.13bn, data reveals<\/h6>\n\n

Millions of UK consumers are expected to spend less on the final day of shopping before Christmas amid the rising cost of living.<\/p>\n

A survey by the Office for National Statistics found 79% of consumers plan to buy fewer gifts this year and 73% say presents will be cheaper compared to last year.<\/p>\n

Sales of second-hand items are expected to increase as shoppers turn towards cheaper and more thoughtful presents.<\/p>\n

Shoppers stocking up on food and drink for the big day are also set to rein in their spending.<\/p>\n\n

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Over two-thirds (62%) are planning to purchase less expensive food and drink as cutting back on the amount of food and alcohol is a priority for 56% of consumers.<\/p>\n

Meanwhile, 58% said they plan to eat out less.<\/p>\n

Retail sales on Christmas Eve are forecasted to drop to \u00a31.13 billion, down from \u00a31.5 billion last year, making it the lowest spend of any day in the run-up to Christmas.<\/p>\n

This comes as many consumers started their Christmas shopping early this year to get ahead of the festive rush and bag large Black Friday discounts.<\/p>\n

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