The UK’s total festive spending will amount to £22,3 billion this year, research from the Government suggested.
The prediction sees the average UK household spending £822 on Christmas this December, a significant increase from 2012 at £54 more than last year’s average per household.
Gift shopping accounts for £599 of the household average, on a 5.8 per cent rise from 2012.
However, the data implies that only wealthy Britons are expected to push up their expenses, while the less privileged are likely to spend 2,2 per cent less than what they did previously.
This research comes as the British Chamber of Commerce forecast the economy could be improving in the new year, with a GDP growth of 2.7 per cent.
According to the Government’s Consumer Confidence Index 2013, there has been an overall surge in sales this year.
Retailers’ hopes that Christmas sales will meet targets may however be dampened by news that footfall on British high streets has dropped by 2,9 per cent across all shop types in November.
On the other hand, internet shopping in the UK is hitting a record high.
In a further investigation, ELL asked shoppers on Lewisham High Street about how much they expected to spend on Christmas this year.
This is what we found: