Supermarkets benefit as 锛侰hristmas isnt cancelled锛

Almost 60% of consumers will treat Christmas as usual this year and spend the same as they did in 2007 despite the economic mood, according to a new survey.
Deloitte's Christmas Retail Survey found that 24% of consumers will spend less, while 19% will up their spending from last year.

But more consumers will use supermarkets for a portion of their gift shopping this year, Deloitte said (66%, up from 52%).

Of those polled, 76% cited convenience for the shift to supermarkets, while 55% said value was the defining factor.

Strategic advisor to the retail practice Richard Hyman said: "Discount grocers are seeing rapid growth and this is set to continue through the Christmas period with 29% of consumers planning to do more of their Christmas shopping at value stores.

"Furthermore, whilst the move towards value and price is pronounced in grocery, it will be felt across the industry."

The survey comes after Verdict Research said retailers face unrivalled bleak conditions this year.

Head of retail Tarlok Teji added: "We think the talk of Christmas being cancelled is overplayed. Whilst total planned spend including socialising may be down, the majority of consumers intend to spend the same as last year."

On average, the company said, consumers will spend £655 on socialising, gifts and food and drink in the run-up to Christmas in 2008.

Asda has said UK consumers will spend £300m less at Christmas this year than they did last.

Verdict Research said in October that consumers will spend more money this Christmas, but only because the price of food has increased so dramatically.