Shoppers plan to spend less in post-Christmas sales due to rise in living costs | Personal Finance | Finance

With cost pressures rising, 41 percent will be turning to reselling platforms in a bid to bag a bargain, while 28 percent even plan to use these for offloading unwanted gifts.

Consumers also want to shop more mindfully with half making a conscious effort to buy fewer plastic-based goods, up from 26 percent in 2021.

And 52 percent intend to reduce the number of fast fashion purchases they make, compared to last year’s 27 percent.

While a conscientious 40 percent will buy from retailers with good sustainability credentials, and 51 percent want to support local and smaller businesses, up from 22 percent year-on-year.

Harshna Cayley, head of online payments at Barclaycard Payments, said: “The rising cost-of-living and inflationary pressures have naturally had an impact on the amount being spent in the post-Christmas sales this year.

“Having said that, retailers can take confidence knowing that Brits still plan to make the most of the deals and discounts on offer.

“One trend that has emerged this year is the rising popularity of reselling sites.

“Many consumers intend to make the most of these platforms by adopting a love-it or list-it approach to Christmas gifts they receive, while also searching them to snap up ‘second-hand’ unloved bargains.

“It will be interesting to see how sales volumes to these sites are impacted as cost conscious shoppers make use of them.”

The study also found personal tech items are most sought after among sales shoppers (42 percent), with food and drink (41 percent) and household technology items (32 percent) also proving popular.

Boxing Day remains the most popular day to start post-Christmas sales shopping, with 47 percent planning to make purchases either online or in-store today.

And an eager 46 percent kicked off their post-Christmas shop on Christmas Eve, while 38 percent started on Christmas Day itself.

But rising living costs are also having an impact on 42 percent of shoppers who said price increases will limit their ability to shop in the post-Christmas sales.

Of those, 62 percent plan to spend less in the sales than they usually would, according to the OnePoll figures.

While 27 percent of those who feel rising living costs is impacting their spending ability in the post-Christmas sales are using the festive period to stock up on essential items only – with clothing (10 percent) and necessary food and drink (8 percent) their most likely purchases.

Harry Wallop, retail expert and commentator, said: “The increased use of reselling sites this festive period makes perfect sense, and speaks to the fact that more Brits are thinking about the environment, as well as facing pressures on their personal finances.

“Given the tough economic backdrop, reselling unwanted items can help people’s finances and is also a more conscious way to shop – reducing waste and enabling shoppers to snap up bargains at a price they wouldn’t be able to get elsewhere.”