Little Christmas cheer predicted for UK retailers as shoppers cut back

'Consumers are already reducing discretionary spend with fewer presents purchased and a shift to cheaper retailers to make budgets stretch further.'

UK consumers are cutting back on Christmas spending as soaring inflation hurts household budgets, analysts note, a sign that Britain’s beleaguered retail stocks can expect little relief from the traditionally busy end-of-year shopping season.

Retailers have already endured a tough year, navigating higher costs, supply-chain issues, and shoppers who have become more price-conscious.