CHRISTMAS shoppers will spend a record £80.3billion in the lead-up to December 25 — but retailers still face going bust in the New Year.
The mixed message by the Centre for Retail Research (CRR) comes as Brits brace themselves for the Black Friday shopping weekend.
In total, in the six weeks to Christmas, £0.6billion more will be spent than in the same period last year.
The rise isn’t as much as previously, when it’s been a billion pounds or more. And stores will struggle with just £52.6billion coming in via the tills — down £2billion (four per cent) on last year.
Online retailers will fare much better, with sales predicted to hit £27.6billion — up £2.5billion or ten per cent.
Analysts who did the research for Voucher-Codes say retailers benefiting most will have clever discounting policies, including Amazon, Asos, Currys and John Lewis.
CRR boss Prof Joshua Bamfield said: “Despite Brexit and the election, people still want to celebrate. But high streets are in for a caning as online sees a peak.
“There will be retailers going into administration in January.”
DODGY online sellers — usually based abroad — that fail to comply with UK laws are buying prime slots on Google Shopping’s listing service, Which? found.
