According to the British Retail Consortium (BRC), some£4.4 billion will have been spent in the four days leading up to Easter and a further£3.6 billion over the bank holiday weekend.
Shoppers are likely to spend£4.2 billion on food and drink over the eight days, more than£500 million greater than in an average, comparable eight-day period.
DIY and gardening sales may not be as strong as last Easter, when April’s sun aided trade, but they are still expected to reach almost£3 billion.
BRC director-general Stephen Robertson said: “The early Easter could be a mixed blessing. Overall, Easter is retailers’ second most important sales season – although, for some, it matters even more than Christmas. With personal finances under pressure and evidence that customers are cutting back on non-essentials, retailers are eager for the Easter boost. But the predicted poor weather is likely to mean a March Easter is weaker than last year’s warm and sunny April one.”
Nielsen forecast that nearly£280 million will be spent on Easter eggs in supermarkets and convenience stores this year. But it revealed there are signs of shoppers cutting back. In the first two weeks of this year’s six-week Easter trading period, Easter egg sales rose only 9 per cent, compared with 16 per cent in 2007 and 17 per cent in 2006.
Nielsen senior manager, retailer services, Mike Watkins said: “This year, it’s difficult for retailers to know how strong Easter trading will be, with consumer spending being squeezed. It’s possible that any last-minute rush to buy food and indulgences will be less marked than last year, when the weather was unseasonably warm.”
No comments yet