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Christmas spending set to go up
Spending over Christmas is set to increase compared to last year's levels, according to the findings of a new report.
The British Retail Consortium (BRC) states that spending in December will reach £33 billion, of which a third will be specifically for Christmas presents.
Christmas Day alone is expected to cost British families £975 per household, with each person spending around £390 on gifts, which could be financed using low-rate personal loans.
Kevin Hawkins, director general of the BRC, remarked: "These are encouraging predictions for the retail sector after a tough year which has seen a slump in consumer confidence, escalating costs and falling prices.
"The high street is definitely eager for a boom Christmas," he added.
A recent report from Deloitte backs up the findings of the BRC, since it puts the average gift expenditure per person in the UK at £378.
This represents an increase of over a fifth on 2005's figures, the company states.