Changing spending habits ‘influenced by money worries’

Concerns over issues such as debt management may be part of the reason for a notable shift in UK consumer spending habits this Christmas, it has been claimed.

Director of ethical online supermarket ectopia.co.uk Miles Owen said the other factor could be concern for the environment, with the two put together leading to people buying smaller goods.

He remarked: “It’s difficult to say whether it’s because of the money in their pocket or whether they are genuinely more concerned about the environment, but certainly aspects of both are playing a part here.”

Those who are saving money may be doing so as part of a debt management strategy, while people who are spending substantially might wish to ensure that any credit card they use has a good rate on it.

Mr Owen said that the overall volume of presents bought was the same as last year, but there had been more discounting.

This matches the predictions of stores in the British Retail Consortium’s Christmas Trading Snapshot Survey, with half tipping the level of discounts to be higher than last year.

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