What’s on your Christmas Shopping list?
Are you planning on a feast for the family? Maybe a new outfit to celebrate in (currently Christmas Parties are still allowed). Have you bought new decorations for your home? Or maybe lots of gifts and presents to give out?
This year, it is expected that the UK will spend £84.7bn over the festive period. This is an increase on even pre-pandemic levels. People really do want to celebrate and whilst controversial, I do think Tesco’s Christmas advert captured the mood of many people across the nation. People want to celebrate with their family and research shows that they intend to spend more money in doing so!
The research by Global Data UK showed that £32.26 billion (38%) of spending is set to be online. The value of Christmas online spending is up 45% on 2019. It really does show that people’s spending habits are changing.
Local high streets, town and city centres really do need your support more now than ever. The big concern today is will more people turn to online shopping than is predicted given the new restrictions that have just come into force? Will our local high streets shops suffer?
On a lighter note, £84.7 billion is the equivalent of 314,000 average UK priced homes (The average priced UK home is £279,300). Closer to home in Lancaster where the average price is currently £166,280 – this is the equivalent of 509,360 homes. In Morecambe, the average property price is £150,009. This is equivalent of 564,630 homes!
There is one thing of certain, with all this spending comes the need for more space to store your purchases, and the race for space looks set to continue in 2022!
If we can help you with anything property related, please get in touch. At JDG we are here to help!
Thanks for reading
Michelle x