60% of Britons will spend less this Christmas, Deloitte survey shows

Six in ten Britons believe they will have less money to spend on Christmas this year, according to a survey published by Deloitte on Monday.

The survey found that 38% plan to switch to cheaper brands or stores to find their gifts, and 35% plan to use a discount supermarket for at least part of their Christmas dinner.

It found that over one in 10 intend to buy gifts second hand, while 8% said they intend to buy no gifts at all.

Oliver Vernon-Harcourt, head of retail at Deloitte, said: “Consumers are entering the festive season with budgets under more pressure this year, and it is not surprising that almost all are considering affordability and adapting their typical Christmas spending habits in one way or another”.

According to the data, 54% of customers intend to do their Christmas shopping in November, including the Black Friday discount day on November 25.

Last week supermarket Sainsburys commented on the struggles many were facing saying that customers were ‘watching every penny’, while department store John Lewis launched its Black Friday event on November 4, in a bid to help customers spread the cost of Christmas.