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Sainsbury's Finance: Pre-Christmas discounting boosts sales

A rise in the number of sales in the run-up to Christmas has resulted in a boost in consumer spending on credit cards, it has been suggested.

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16 December 2008

Sainsbury's Finance: Pre-Christmas discounting boosts sales

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Donald MacLeod, head of Sainsbury's credit cards, explains many retailers have been more aggressive with their discounting as the festive period draws closer.

He suggests that retailers such as Debenhams and Marks and Spencer have had a "huge" amount of press coverage in relation to their sales, resulting in some spikes in spending.

In terms of spending this year, Mr Macleod states consumers are likely to be thinking about the "not particularly positive" stories relating to the medium-term status of the economy when it comes to putting their hand in their pocket - and as such predicts no growth for the next 12 months.

The expert's comments follow the publication of a poll by Research Plus for Sainsbury's in November, which found six per cent of consumers had already spent £600 by this stage in their Christmas shopping.

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