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Consumers to spend £21bn this Christmas, says PwC

Lisa Hooker, consumer markets lead, said consumers are ‘prepared’ to spend up to 20% more than last year

One in four consumers intend to spend more this festive season, with an average £428 spend per person up from £384 last year, according to PwC’s festive predictions research.

It revealed the increase, which is seen across all age ranges and regions, means a total spend of £21bn on presents and celebrations, a 12% increase on 2020.

According to PwC, given the disruptions last year the increased spend is driven by more people planning to spend Christmas with extended family, leading to more “gifting opportunities, more celebratory food and drink and more Christmas socialising”.

The firm said over two thirds, 67%, of Christmas spend will be online, “edging closer” to the 83% online spend over Black Friday.

Lisa Hooker, consumer markets lead at PwC, said: “Christmas this year may not be completely back to normal but consumers are determined to make it a good one and many are prepared to spend up to 20% more than last year.

“Spending habits will be more traditional with a focus on food and drink, Christmas dinner and stocking fillers as opposed to homewares and toys. Concerns over stock availability is also driving a desire to shop early this festive period.”

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