Recent research suggesting that despite political and economic uncertainty Britons will spend more than their contemporaries in any other European country this Christmas – an average of £567 per person – represents an opportunity for FMCG suppliers and retailers that have made the most effective use of insights into shopper attitudes towards the festive season.
The study by Deloitte suggested that each UK shopper plans to spend £299 on presents, £143 on food and drink, £63 on going out and £62 on travel. This compares with a European average of £409. The research also showed a third of UK shoppers plan to buy most of their presents in November, whilst three fifths said they preferred to shop for Christmas presents in stores rather than online.
Leveraging this information, alongside more detailed insights into shopper attitudes, behaviour and missions, is critical to which brands and retailers emerge most successfully from the Christmas period, according John Nevens, Joint Managing Director of FMCG and retail specialist, Bridgethorne.
“Everyone knows that Christmas is the major opportunity in the calendar for brands and retailers to enjoy an economic boost,” said Nevens. “Those in the best position to exploit it will be those who have put the work in in advance to ensure that detailed behavioural insights have informed their particular seasonal marketing and promotional activity.”
Recent Kantar figures showed that £17m has already been spent on mince pies and £3m on Christmas puddings so far this year. It forecasts that the average household will spend more than £380 on groceries during December and that, in total, shoppers will spend nearly £11bn in December alone.
“There is still a great deal of opportunity around Christmas grocery shopping; adding themed products to your basket at the last minute for your own celebrations,” commented Nevens.
“Brands that understand the shopper’s thought process most clearly and the influence placed on them by others in their households, are the ones that can most effectively structure their activity to align with it.”
