UK retail sales set to rise just 2 percent this Christmas
12 Nov 2018
Following a difficult year for the UK high street, retailers are set to see a “modest” 2 percent rise in Christmas spending this year, reaching an estimated 98.8 billion pounds, according to UK data analyst GlobalData.
The forecasted 2 percent rise in spending during the “golden quarter” is smaller than the 2.3 percent increase in spending during the same period in 2017. While grocery spending is expected to drive growth, with food inflation leading to a 2.5 percent increase in the category, non-food spending is forecast to grow 1.6 percent, with the health and beauty sectors expected to fare the best.
Online pureplays such as Asos and Boohoo are expected to be the biggest winners this Christmas season thanks to their online platforms and Christmas discounts. Instagram’s new 2018 shopping function and Pinterest’s new ’Product Pins’ shopping feature - both introduced this year - are also expected to bolster online shopping this Christmas.
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