Partner Article

Festive budgets of London shoppers eclipses the rest of the UK

Retailers in London are set to benefit from a Christmas bonanza after it was revealed that Londoners are set to spend significantly more than their fellow consumers in the rest of the UK over the festive period.

According to a survey by European payments provider Klarna, consumers in London are budgeting to spend on average £803 this Christmas, the highest total in the UK and more than £250 more than the second biggest spenders in the North West (£535).

In fact, such is their yuletide splurge, that 25% of those surveyed said they will subsequently have to cut back on all but the most essential spending in January as a result.

The figures, which come from a survey of 2,000 UK consumers, also found that the 45-54 year old age group was most likely to leave their shopping until the last minute, while 40% of Millennials surveyed said they had their shopping done and dusted up to three weeks before the big day.

Luke Griffiths, UK General Manager of Klarna commented: “While the frenzy of Black Friday may be over, there is still plenty of opportunity for retailers to capitalise on festive spending, particularly online.”

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.