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Shoppers optimistic about Christmas as disposable income rises slowly

Shoppers optimistic about Christmas as disposable income rises slowly
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Shoppers are feeling more optimistic about the festive season as the financial pressures facing households start to ease, shows Asda's latest income tracker.

According to the tracker, average household disposable income increased by 12 per cent 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 implying this is 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 rise in household disposable income stems from continued annual wage growth and a sharp deceleration in inflation, driven predominantly by falls in gas and electricity prices compared to the previous year.

The improvement in household finances has been accompanied by an increase in consumer optimism about Christmas. More than a quarter (27 per cent) of consumers who took part in Asda’s latest consumer survey said they were excited about Christmas, compared to just 18 per cent last year.

Despite increased excitement about Christmas, the study found that many shoppers are wary of buying festive gifts now because they believe better deals will be on offer closer to Christmas. This time last year, 40 per cent of shoppers had already started their festive shopping, whereas this year, just 30 per cent have begun gift hunting.

Asda Income Tracker is independently compiled by Cebr (Centre for Economics & Business Research) which claims to show how much families have left in their pockets after all taxes and essential bills are paid. ‘The Score’ is a weekly survey of 2,000 UK consumers, tracking customer attitudes and changes in behaviour in response to topical issues.

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A whopping ninety-one per cent of respondents to a survey conducted by the Federation of Independent Retailers (the Fed) called for more police patrols on streets, while a similar number - 90 per cent - said that shoplifters should be handed harsher sentences.

Seven out of 10 respondents (72 per cent) said their stores had experienced shoplifting, break ins and damage to property, while they and their staff had been physically or verbally threatened.

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“Inadequate responses from the police and a slap on the wrist for offenders means that shoplifting is soaring, and offenders are becoming more aggressive and brazen,” said Fed National President Mo Razzaq.

“From the responses we received, it is clear that real action is needed by police, by courts and by the government to stem the overwhelming tide of crime against retailers and their staff. Everyone deserves to feel safe at work and for their businesses to be protected against criminals.

“Fed members are also sending a clear message that one of the catalysts for verbal and physical abuse in stores is asking for proof of age before selling an age restricted product. If the government presses ahead with its plans to phase out smoking and vaping through a progressive ban to gradually end the sale of tobacco products across the country, independent retailers will be subject to even greater levels of violence, abuse and theft.”

Calling for action from the government and not just words, Mr Razzaq continued: “Without effective deterrent, criminals and opportunistic members of the public will continue to commit crimes.”

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