Experts are predicting a good Christmas for retail and an even better one for online traders this Christmas. Figures from Apacs and also from IMRG look very promising for the online and off-line retail industries.
According to Apacs, the trade organisation of the payments industry, shoppers are set to spend £53 billion in the run up to Christmas this year. This represents a 4.2% increase on last year.
When it comes to spending in stores there will be a shift from using credit cards toward debit cards. This may be an indication that consumers are becoming more responsible about debt.
Apacs expects a total of £34.1billion to be spent via cards but £22.4 billion of that will be on debit cards and the rest £11.4 billion on credit.
However internet spending will see an increase in credit card usage. This is perhaps because of the added security that credit cards offer over debit cards.
According to e-retail industry expert IMRG online spending this festive season will increase by 42% to £13.8 billion.
There are now 27 million active internet shoppers in the UK and 84% of them have broadband. Consumer confidence in the concept of buying online is rising and with more and more well-known established retail brands selling on line the market is really opening up.
There has also been an increase in usage by the older generation and by women and this has been a boost for online sales as these groups include people with time and money to spend on shopping.
The Royal Mail is preparing to deliver over 100 million gifts this season.
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