Market research firm TNS Worldpanel has warned supermarkets that they should prepare for the “biggest week ever seen”. TNS research predicts that the demand for festive food during the Christmas week will be up 13 per cent on last year.
UK households are expected to spend a record-breaking £4.25 billion on supermarket food during Christmas week - nearly two and a half times 2002 spending levels. The trend towards premium food, organics and indulgent treats, combined with the extra shopping day ahead of this year's Christmas Day falling on Tuesday, means households will spend an average of nearly £200 on supermarket food in Christmas week - more than £20 up on last year.
According to TNS, shoppers' appetite for Christmas food, appears to be unaffected by five interest rate increases and higher house prices this year, and the firm has urged grocers to ensure stock levels or watch customers go elsewhere.
“With each additional full shopping day in the week before Christmas we have seen increases of 15-20 per cent on the previous year's spending,” said Edward Garner, research director at TNS. “Retailers must be ready for the record demand we are expecting this Christmas week. Many people will be off work on Christmas Eve this year and will be doing last-minute shopping, especially for fresh goods."
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