December saw a change in Christmas shopping habits, according to figures from retail information company Experian.
Consumers approached their spending in a more ‘tactical’ way, resulting in three significant peaks rather than the traditional six-week build-up – with some days showing year-on-year increases of up to 25%.
The peaks took place over the last two weekends before Christmas and the first days of the sales, but failed to make up for the overall tendency towards falling footfall, with 3% fewer people on the high street than in 2006.
Martin Davies, a spokesman for Experian, said that Britain has become a nation of ‘savvy shoppers’, with consumers realising their power and using it to hold back until retailers ‘cracked under the pressure’ and introduced early sales and discounts.
He added: “There has been a significant growth in channel choice over recent years, which means consumers no longer have to rely on the traditional High Street and can instead choose internet browsing, supermarkets or big trips to retail parks.
“This year marked a watershed in the way consumers shop, and retailers will have to work hard to take the upper hand back from consumers next Christmas and the lessons learnt from this festive shopping period will be analysed long before the decorations are returned to the loft.
“Retailers’ first challenge will be to hold consumer interest past the spring stock turnaround, especially as reality kicks in and consumers find themselves back at work and facing the first credit card bills of the year.”
© Crimson Business Ltd. 2008
