Sainsbury's Bank: Early Christmas spending up on last year

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Sainsbury's Bank: Early Christmas spending up on last year

Mon 8th Dec 2008

Research by Sainsbury's Bank has revealed that shoppers are spending more on Christmas expenses at an earlier stage in the present-buying period than last year.

According to the study, by the end of the third week of November people had spent £7.21 billion on Christmas shopping, up from £6.29 billion at the same stage in 2007.

The supermarket bank said that people appeared to be budgeting better by spreading the cost of their Christmas spend over a longer period of time.

Donald MacLeod, head of Sainsbury's Credit Cards, said: "It's encouraging to see that a large number of shoppers are spreading the cost over a longer period of time, maybe utilising a couple of pay packets rather than just their December one."

Last month, research by HSBC showed that overall Christmas spending is likely to remain the same as it was last year, despite the oncoming recession.

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