Christmas retail spend is forecast to hit £16bn this year, with discounters expected to take the biggest slice of the pudding.
Last year, Tesco held a 16.5 per cent market share on Christmas spend, however this year it’s the likes of B&M, Home Bargains and Poundland are reportedly in a strong position to win spend.
According to sales analysts, Conlumino, spending on gifts is forecast to grow by 2.1 per cent on 2014 to reach £9bn, while spending on seasonal non-food products will rise by a marginal 0.1 per cent to reach £2bn.
The predicted lift in spend for Christmas 2015 is said to be a result of increased disposable income.
Greg Bromley, retail analyst at Conlumino, said: “As the typical consumer finds themselves with that bit more disposable income, some of this will be directed toward more discretionary seasonal retail occasions, the most important of these being Christmas, with gift giving forming a huge part of the big day.”
Bromley added that while ranges within the major grocers are sizeable, discount retailers are likely to win a greater share of spend this year.