Early Christmas shopping 'boosted' by discounts
Commercial insurance
17th December 2008
The recession is failing to dissuade shoppers from hitting the high street during the festive period, new figures suggest.
According to research by Sainsbury's Finance, the early signs show that the amount people are spending is up on the same period last year.
Donald MacLeod, head of Sainsbury's credit cards, said the growth in retail sales was due largely to heavy high street discounting and what he called "seasonal uptake".
He commented: "We have seen a lot of retailers being aggressive with their discounting in the run up to Christmas. I think it is working."
A recent survey by Research Plus found estimates that early Christmas spending will be £7.21 billion, up from £6.29 billion in 2007.
Meanwhile, the average amount spent on preparing for Christmas per person is £150.78, an increase of 14 per cent on the same time last year.
