There’s only one thing on every retailers’ mind this week – Christmas, and it looks like it will be a nervous wait to see if the tills are ringing.
There are several factors at play that could benefit retailers this year. Firstly, the timing of Christmas.
The big day falling on a Sunday means an extra shopping Saturday.
Retailers will be hoping that consumers flock to the high street rather than the pub come Christmas Eve.
The weather seems on the retailers’ side.
Although the start of autumn was mild, the cold snap had arrived by mid-October and shoppers picked up their winter coats and boots.
Analyst Peel Hunt also points out that fashion retailers should have better planned their stock after two successive weak autumn seasons.
That said, research from Deloitte shows that pre-Christmas discounting levels have grown for the sixth year in a row, with the average discount on the high street at 43%.
Deloitte expects this to rise to 54% by Christmas Eve. Shoppers are savvier than ever and are holding out for pre-Christmas discounts.
As ever, it’s set to be a nail-biting end to the festive season. Prepare yourself for a tumultous week.