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Shoppers spending 'prudently'

Shoppers spending 'prudently'

Category: Credit cards

Updated: 10/12/2008
First Published: 08/12/2008

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Shoppers have been praised for buying gifts earlier this year to take advantage of high street sales.

Credit cards boss at Sainsbury's Donald MacLeod said that purchasing festive goods earlier to take advantage of offers from retailers is "prudent".

"Christmas is one of the most expensive times of the year so it's encouraging to see that a large number of shoppers are spreading the cost over a longer period of time," he remarked.

His comments follow research published by Sainsbury's Finance that revealed consumers have spent more money in October and November this year.

According to the retailer, by mid-November shoppers had spent 14 per cent more compared to the same time last year, with the typical expenditure reaching £150.78.

Meanwhile, research by credit card company Egg has revealed that shoppers are increasingly using the internet to buy Christmas gifts, with 54 per cent of online consumers likely to pay with their credit card to insure purchases.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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