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Will retailers be celebrating success this christmas? - BCP

Shoppers are expected to spend more this Christmas than last year.  In a poll of 1,500 people, researchers Accenture found that 85% of those questioned said they are likely to spend the same or more compared to last Christmas.

The survey results will provide a boost for retailers after an uncertain few months following the EU referendum result in June. Despite the Brexit vote, 57% of people said their spending habits were unaffected. Just 11% said they were more cautious with their spending on essentials and were not spending anything on non-essentials after Britain voted to leave the EU.

Eight out of ten were planning to check online store Amazon.co.uk before making any purchases.

Matt Prebble, managing director of Accenture’s Retail Practice in the UK, said that retailers needed to be flexible and deliver enticing offers throughout the season to make shoppers part with their pounds.

He said: “While it’s encouraging to see that many consumers are planning to spend more this festive season, the challenge for UK retailers will be to drive profitable sales.

“In a world in which their own costs are under pressure from a weak pound, and consumers are more promotion focused than ever, retailers have a difficult balance to achieve.”