Market research firm Mintel ups its spending expectations for December.
Analysts at Mintel have raised spending expectations for December, saying that Christmas sales could now reach £42.5 billion.
The market research company had originally forecast sales growth of 2.5% on the 2014 figure of £41 billion. However, the revised figure could mean a jump in retail sales of 4%.
Richard Perks, director of retail research at Mintel, told Retail Week that “there’s a lot of pent up spending power still there waiting to come through in December” following the lacklustre Black Friday period.
Meanwhile, Verdict is expecting Christmas spend to drive a record quarter for retail, with revenues likely to grow to £92.1 billion during the period, up 2.2%.
