Retailers are hoping a last blast from Christmas shoppers will save their festive season, with Saturday expected to be one of the UK’s biggest spending days of the year.
Almost £2.5bn is expected to be spent before Christmas Day over what some are calling the “super weekend” – although that would be 4.5% down on last year and represent an even bigger fall in the volume of goods bought once inflation is taken into account.
Online retailers are suffering most, with spending expected to be down 32% this weekend compared with last year as shoppers return to the high street in greater numbers.
The shopping centre operator behind the Westfield malls in west and east London said it expected to be busy, with health and beauty – already one of this year’s few winning categories – likely to be particularly popular with last-minute shoppers.
“We expect this year’s super weekend to fully live up to its name. Shoppers will be flocking to our centres,” said Scott Parsons, the chief operating officer for the Unibail-Rodamco-Westfield’s UK business.
He said shoppers were increasingly seeking out experiences such as ice-skating and restaurants alongside shopping.
However, evidence suggests Britons have spent less on dining out this year as higher household bills have eaten into their budgets.
Households have also prioritised entertainment and travel as they enjoy more freedom after several years of Covid pandemic restrictions.
Retail sales have been lacklustre as shoppers have taken care with their purchases amid high inflation on food and other household essentials.
Fashion sales have also been affected by a warm autumn, with many operators forced to discount to clear stock as the weather has turned cooler close to the end of the seasonal spending spree.
after newsletter promotion
Retail sales volumes in November registered a modest 0.1% increase year on year after a 0.3% rise since October according to the latest Office for National Statistics figures out on Friday.
This was ahead of City forecasts of a 1.3% fall but was partly aided by the timing of the sales period centred on Black Friday (24 November) during which discounting on furniture, carpets and other household items drew shoppers back to the high street.
The independent retail analyst Nick Bubb said he remained sceptical that the ONS had a strong grasp of trends in retail spending, which other surveys showed remained weak going into the festive period.
