Shoppers are feeling more optimistic about the festive season as the financial pressures facing UK households eases, new research reveals.
Asda’s latest Income Tracker reveals that average household disposable income increased by 12% year-on-year in October, the fastest rate of growth in more than two years.
In tangible terms, the average UK household was £23.04 per week better off in October compared to a year earlier. This marks the first time in more than two years that all households had some disposable income left at the end of the month after paying bills and essentials.
The research also shows that 27% of shoppers say they are excited about Christmas, compared to just 18% last year.
However, despite increased excitement about Christmas, many shoppers are wary of buying festive gifts yet because they believe better deals will be on offer closer to the event. This time last year 40% of shoppers had already started their festive shopping, whereas this year just 30% have begun gift hunting.