With the festive time of the year fast approaching, we once again turn our attention to the busy retail period that is Christmas. In particular, maybe it’s time to see what opportunities lie in the sublimation printing market?
Christmas spending in the UK adds up to nearly £80 billion each year, despite a slight drop-off last year, due to the pandemic. Experts are predicting a bounce back in 2021, with spending comparable to 2019 levels, which saw a total of £78.580 billion spent with the average UK resident setting aside approximately £363 for treating friends and family to Christmas presents. This average spend includes £52.15 on consumer electronics, £47.18 on toys, £28.55 on clothing/footwear and £27.29 on gift cards, vouchers & money.
In terms of demographics, Generation X (those born 1965-1980) had the biggest Christmas spend with an average of £576 per person with Generation Z (born after 1996) spent the least, with an average spend of £207 per person.
December 2020 saw a higher proportion of online Christmas shopping than during any previous year, with 33.8% of the value of all credit and debit card spending occurring over the internet, amounting to more than £21.7 billion. Online spending increased by 56.2% more than in the same period in 2019.
One in four are expecting their Christmas and/or Black Friday budgets to increase this year, with over 70% having the same amount or more money to spend on Black Friday and 78% for Christmas, compared to 2020. The UK population has nearly £200bn (£198bn) in lockdown savings and 82% aiming to spend this partially or fully on Christmas or Black Friday shopping.
With the Christmas retail season predicted to bounce back strongly in 2021, now is the time to ensure your last-minute preparations go well with personalised Christmas gifts to delight your customers. Xpres has a wide range of sublimation gifts, perfect to personalise and meet the huge demand of the festive season. View the full range now…