Britain’s supermarkets are poised to rake in millions of pounds as preparations for Christmas reach fever pitch, a new report has estimated.
According to a study from global research specialist Nielsen, supermarkets are set to make £3.5bn in the final shopping week before the big day, up from £3.4bn over the same period last year. The three-week trading spell is expected to generate £9.2bn, as opposed to £8.9bn in 2010.
“After slow sales in November, Christmas finally started for Britain’s supermarkets in the week ending December 3, helped by the release of pent-up demand, colder weather and pay-day shopping,” said Mike Watkins, Nielsen’s senior manager for retailer services. “The comparative year-on-year growths for this December are looking favourable.”
While value growth over the 12-week period to Christmas is set to fall from 4.7 per cent last year to 3.1 per cent in 2011, Mr Watkins added that retailers are unlikely to be affected by supply chain problems similar to those witnessed during 2010’s festive cold snap.
The Scottish Retail Consortium last week suggested there had been some encouraging signs for retailers north of the border as the Christmas period got into full swing.
