The cost of living crisis means almost 60% of shoppers expect to cut back in retail’s ‘golden quarter’
British shoppers are expected to spend £4.4bn less on non-essentials – a fall of 22% – in the run-up to Christmas as a surge in the cost of living puts a squeeze on their spare cash.
Almost 60% of shoppers expect to cut back on non-food spending in the so-called “golden quarter”, or last three months of the year when most retailers book the majority of profits, according to research by Retail Economics with retail technology firm Metapack.
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