More than a third of shoppers will spend less on food and drink this Christmas than they did in previous years, according to the latest exclusive research undertaken by Empathy Research for TalkingRetail.com.
Of those polled, 26% said they will spend “slightly less” on groceries in the festive period than in 2007 or earlier, while 12% revealed they will spend “significantly less”.
Those aged between 35 and 44 are the worst hit, as 17% said their spending will be significantly lower and 29% that there will be a slight change in outgoings.
In the 25 to 34-year-old age bracket, 16% of respondents said they will actually be spending more at Christmas time in 2008.
Last week, the Confederation of British Industry said high street sales fell more sharply than expected in November.
Verdict Research also discovered that consumers will spend more money on food this Christmas, but only because food prices have risen. The volume of items they buy will be lower, it said.
Additionally, Empathy’s poll found consumers aged between 18 to 24-years-old and over 45 are not going to change their spend (55% and 54% respectively).
Overall, more than half of the people surveyed (52%) said their spending will remain unchanged compared with other years. Only 8% believe slightly more will be spent, and 2% that a lot more cash will be used for festive goods.
Empathy Research (www.empathymarketing.com) polled 1,000 people from its Pigsback.com website.
The firm is providing weekly intelligence reports for TalkingRetail.com, looking at everything from alcohol legislation to the credit crunch.
View the complete report on spending habits this Christmas
