Gloomy Christmas due on high street

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

The figure is in contrast with the average 5% growth in Christmas spending every year since 2000.

Mintel's research found as many as 41% of Britons will spend less this Christmas than they did last year - almost twice the number (22%) who said the same in 2007.

Just one in five (20%) said they would splash out at Christmas even though money is tight, down from the 32% who said the same last year.

Mintel spokesman Richard Perks said: "There is always a lot of emotional pressure to spend money and spoil everyone over the festive season, and during the years of unprecedented boom time many Brits enjoyed lavish Christmases.

"But this year, as budgets tighten, Christmas will become a much less indulgent affair.

"The slowdown in retail sales is taking a long time to develop but is now starting to take hold. As a result many retailers will be looking for ways to encourage people to part with their cash and so we are likely to see discounting and end of year sales start before Christmas."

The younger sector remained relatively buoyant, however, with companies who catered to the market such as Topshop, Primark and H&M holding their own, Mintel said.

The market analyst's study found younger Britons were less concerned about their Christmas budget than older generations, with just 30% of 20 to 24-year-olds planning to cut back their spending.

Mr Perks added: "Shops that target the under-25s, such as young fashion, games and those that sell small electricals, should do relatively well this Christmas in comparison to other markets."