Credit Card News Post Christmas Big Spenders Buck Saving Trend 18019961

Post-Christmas big spenders buck saving trend

30 December 2006
Shoppers will spend £1.8 billion more in the 2007 January sales than they did in the same period in 2006, a survey from Direct Line Home Insurance has found.

The study predicts a total spend of £5.5 billion in the January sales.

Analysts FootFall, who measure the number of visitors to top sales stores, found shopper numbers were up by seven per cent on the first day of the sales compared to December 26th 2005.

Department store Selfridges reported first-day sales 14 per cent higher than in 2005.

Almost half of those surveyed, 43 per cent, said they had deliberately limited their pre-Christmas spending in order to spend big in the sales.

Andrew Lowe, head of Direct Line Home, comments: “It may have been a quiet Christmas on the high street, but it looks like shoppers will make up for it in this year’s sales.”

But good news for retailers is worrying new for those warning Britons spend more than they can afford.

Damien Gibbons, who heads leading debt campaign charity Debt on our Doorstep, has warned BBC News that 2007 could be “the tipping point” for many Britons in debt, with a total national personal debt of £1.3 trillion.

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Written by Editorial Team