Article type Event
Published 3rd December 2014
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Over one third concerned they won’t be able to afford Christmas this year
Two-thirds of us may do our Christmas shopping in local stores according to new research from TSB.
The research found that 65 per cent of those taking part in the survey hope to buy some of their Christmas shopping at independent high street shops and local markets, rather than high street chains.
Over half (54 per cent) of those interviewed said they wish to shop locally this Christmas because they believe it’s important to support their local community, 37 per cent will shop locally because it’s convenient and a third 34 per cent to save time.
Christmas presents came top of the polls for items people plan to buy locally (43 per cent), followed by a third of people saying their local shopping preference with Christmas turkey or another Christmas meat from a local butcher, locally grown vegetables, and Christmas cards from local charities.
The research also found that almost two fifths of people are concerned about the cost of Christmas this year. Regardless of whether family members are on the ‘naughty’ or ‘nice’ list, almost half of those surveyed are planning to cut back on the amount of money they spend on this year’s festivities compared to last year.
Cost cutting measures for over half of recipients included shopping around to get the best deals with a quarter preferring to buy presents for children rather than adults, splitting the cost of presents with another family member and using sites like Groupon, which offer discount vouchers and deals.
When it comes to paying for Christmas, over half said they will use the money in their bank account and encouragingly, one-fifth will cover the cost through a Christmas savings pot that they have already put aside.
The survey comes as welcome news for Greenwich businesses following the recently launched Keep Trade Local campaign in a bid to keep trade viable in the community throughout the year.
Lorraine Turton, Chairman of East Greenwich Business Association, said: "By shopping locally, people are not only helping to support their independent local stores but there is an even more important economic benefit.
"Shopping locally creates valued diversity on our high streets and for every £1 spent in local shops, 63 pence goes back into the local economy compared to only 40 pence spent in large businesses, so shoppers who shop locally are investing into the very fabric of their communities".
Gillie Bexson, Head of Property at Greenwich Hospital Estate, said:"Local Greenwich shoppers are in the enviable position of having one of London's finest designer maker craft markets right on their doorstep - as well as a wonderful collection of independent shops. Local Christmas shopping in Greenwich is a joy as it is not only affordable but you can always find that special 'something'".
Andy Piggott, Head of Current Accounts at TSB, comments: “It is great to see people helping local businesses and communities to thrive by shopping locally this Christmas.
“Anyone not already using these to track their spending should set themselves a financial new year’s resolution to do so and to stay on top of their finances in 2015.”
More information on the Keep Trade Local campaign can be found on www.keeptradelocal.london