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"For the third successive year, UK retail braces itself for an ‘unprecedented’ final two months of trade, although for differing reasons to 2020 and 2021. The cost of living crisis is biting hard and half of consumers are planning to cut back this festive period. How deep this cut is will depend on the willingness of shoppers to throw-off the economic and political backdrop, and how well the retail sector can meet the needs for value and inspiration that are demanded."

– Nick Carroll, Category Director – Retail Insights

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“Spring/summer 2022 celebrations were overshadowed by the cost of living crisis, despite all events being celebrated free of restrictions for the first time since 2019. Pressure on finances will continue into 2023 and retailers will need to invest into smaller ticket gifting options and look for opportunities to help consumers celebrate events at home to keep costs down.”

– Emily Viberg, Retail Analyst

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