UK spending will be lower in real terms than last year as savings have been depleted and inflation remains high, say analysts
Britons are expected to buy fewer and cheaper items this Christmas – especially online – as the cost of living crisis forces many to rein in the celebrations.
While total spending will rise by 3.4% to almost £110bn in the final three months of 2023, according to retail analysts at GlobalData, shoppers will be looking for bargains and cutting back on the number of gifts they buy as inflation remains high at 9.3%.
