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High streets Late surge in Christmas shopping

The Guardian

|

December 24, 2024

Shoppers surged on to high streets on Saturday amid signs they are spending more in stores and on the internet than last year in the run-up to Christmas, as retailers hope for a last-minute rush.

- Sarah Butler

Spending was up 2.3% year on year during the seven weeks to 20 December, led by a 6.1% rise online, according to the credit and debit card provider Visa.

Shoppers focused on electronics and homeware, with sales rising almost 7% in department stores and electronics sales up 1.3%.

However, consumers are clearly choosing to allot their budgets very carefully, with sales of clothing and accessories down 2% year on year, suggesting it has been a difficult end to the season for the fashion industry after a mild autumn that prompted a wave of discounting.

Alicia Ngomo Fernandez, the head of UK consulting at Visa, said: "This holiday season we observed a tentative rebound in consumer confidence, reflected in moderate growth in overall sales and stronger online shopping - as well as solid growth in spending at department stores."

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