Pundits predict consumer confidence boost this Christmas
What do you get if you cross the privatisation of the Royal Mail with the misselling of credit card insurance? The answer, according to market Research firm Verdict, is a boost in consumer confidence that will see the best Q4 seasonal spending since 2007.
That’s right. They reckon many people have managed to find a little more pocket money from buying Royal Mail shares and flogging them for an instant profit. And plenty others have enjoyed a windfall because of bank payouts to those who were missold insurance a decade ago. All this adds up to an angelic “halo-effect”, they say.
“At last things are getting better” says Maureen Hinton of Verdict. She predicts an additional £1.9bn on Christmas spending in 2013 when compared with last year. That’s £88.4bn in 2013’s fourth quarter, compared to £86.5bn in the same period last year.
Amazon will be biggest beneficiary online, apparently. Online shopping will grow 12% to £11.6bn. That seems a little conservative to me.