Holiday shoppers are undeterred by the referendum result, but they choose deals over brand loyalty
Black Friday sales are cropping up all around the UK, but while holiday shopping is set to be strong this year, the major discounting event might not be as profitable for retailers as what comes next.
Nearly 40 per cent of shoppers are waiting for the best discounts to come after Christmas and New Year, a new report by Accenture reveals.
However, 85 per cent of consumers are likely to spend the same or more on Christmas compared with last year.
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The Brexit vote has not deterred holiday shoppers, the study found, with 57 per cent of respondents saying their spending habits have been unaffected by the vote to leave the European Union.
Just 11 per cent said they are more cautious on essentials and are not spending anything on non-essentials following result of the referendum.
This year, consumers are shopping around for the best price, the report found.
Eight in 10 consumers plan to check Amazon.co.uk before making an in-store purchase, while 74 per cent, said they will purchase items from different stores or to get the best price rather than shopping for everything at one place.
"Showrooming", visiting a store to check out a product before purchasing it online, and "webrooming", shopping online before making a purchase in store are both strong trends among UK shoppers, with 75 per cent and 72 per cent of survey respondents respectively participating, which is a 21 per cent and 19 per cent increase from 2015.
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More than half of respondents said they could be enticed by promotions to shop in a store they haven't shopped in for the past year, and on average, a 30 per cent discount is enough to persuade customers to purchase an item.
Personalisation is key with 43 per cent of shoppers agreeing to share personal information with retailers to receive bespoke offers.
Matt Prebble, managing director of Accenture's Retail Pracitice in the UK said the pressure of the weak pound means consumers are more frugal and promotion-focused than ever, and retailers should take note.