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29 May 2025

The World Federation of the Sporting Goods Industry (WFSGI) has launched the first-ever Sporting Goods Physical Activity Impact Report, highlighting the growing global physical inactivity crisis...

27 May 2025

Greater Manchester has rolled out 300 new e-bikes as part of its expanding bike hire scheme in a major step towards achieving its goal of one million additional sustainable journeys every day by...

23 May 2025

ACT service partner Bikebook has teamed up with leading industry publication BikeBiz in a boost to the BikeBiz ‘Mechanic of the Month’ campaign.

22 May 2025

A pioneering prisoner apprenticeship scheme is being highlighted after almost a year of successful operation, offering participants hands-on training and professional qualifications to prepare...

16 May 2025

ACT parent company Bira has said that members are hopeful the warm weather, Easter weekend and upcoming bank holidays will provide a much-needed boost to high street sales.

15 May 2025

UK economy delivers strongest quarterly performance in a year despite forecasts of business downturn.

15 May 2025

A new e-bike hire scheme is set to launch in Edinburgh on a two-year trial basis, with the aim of having bikes on the streets ahead of this summer’s Fringe Festival.

14 May 2025

The City of London’s ‘Square Mile’ has seen the biggest increase in cycling since records began, with daily numbers rising past all previous counts.

13 May 2025

Local Bike Shop Day 2025 brought a wave of...

12 May 2025

A doctor left with life-changing spinal injuries after the front forks of his gravel bike snapped during a ride has secured a £4.5 million settlement following a prolonged legal battle.

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Shoppers predicted to spend £4.4bn less in the run-up to Christmas

Posted on in Business News , Cycles News , Creative News, Outdoor News

Xmas presentNew research has indicated that UK shoppers could spend £4.4bn less on essentials ahead of Christmas – a 22% drop as the rising cost of living impacts on disposable income.

The research by Retail Economics with retail technology firm Metapack, suggests nearly 60% of shoppers expect to cut spending on non-food items in the last three months of the year, the period during which most retailers make the most profit.
The forecast, if correct, would put additional pressure on retailers facing higher energy and labour bills, as well as rising commodity costs.

The company’s Holiday Shopping Trends Report found that British consumers are expected to cut back the most, with over 70% of customers expecting to reduce spending in some form.

Most consumers cited rising prices as a major concern, as UK inflation runs near 40-year highs at 9.9%.

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This December, shoppers are expected to be nearly one-fifth fewer than before the pandemic, with numbers predicted to rise by just 4.2% from last year, when the Omicron threat kept many at home.

The shift to online shopping is also expected to slow as higher shipping and return costs for returned items lead to higher fees.

Retail Economics chief executive Richard Lim said: “Inflation will peak at just the wrong time for retailers. Buyers’ budgets are already under intense pressure as inflation in international markets hit a ten-year high. Consumers are worried, budgets are under pressure, and households are set to cut spending this year in an attempt to make ends meet.

“Amid weakening consumer demand, retailers are also facing a pincer move as costs and operating costs rise, which are testing business models to the breaking point. With profit margins under intense pressure, some retailers are planning to shift shipping and return costs to areas that encourage consumers to look for alternatives.”

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