A few pence are being shaved from this year’s Christmas dinner cost, with households due to pay less this year compared to last.
Recent figures show that the average cost of a dinner, which includes turkey and all the trimmings, will come out at an average £32.46 this year, a slight decrease from last year’s £32.57, which was up 6.5 per cent on the year before.
The overall grocery price inflation stands at 4.7 per cent over the month to November 30, unchanging from October, but down from September’s 5.2 per cent.
Fraser McKevitt, head of retail and consumer insight at market research firm Worldpanel by Numerator, said: “Retailers are pulling out all the stops to win shoppers over as they gear up for one of the most important trading periods of the year.”
According to its research, one in five households says they are struggling financially, which has largely been consistent over the past two years.
“With the cost of living still biting for many this Christmas, just under one third of all spending is on promotion as supermarkets find ways to shield shoppers from the impact of price rises.”
Research shows that 31.2 per cent of spending was on promoted items, up from 30 per cent this time last year.
Mr McKevitt said: “Retailers are savvy to the fact that at Christmas especially – even when times are tough – consumers still find the space in their wallet to spend on small treats.
“In fact, we’ve seen that right through the cost-of-living crisis as people have found new, more affordable ways to indulge in what we call the ‘pick-me-up pound’.
“The rise and rise of premium own-label lines bears this out with one in every £20 now spent on these treat-type products.”
Despite the price of chocolate being up 18.4 per cent compared to this time last year, five million British households still bought an advent calendar in November. Meanwhile, just over one in 10 shoppers bought a bottle of Champagne or sparkling wine over the last month.
Online grocer Ocado reached a new record market share of 2.2 per cent with sales increasing by 15.8 per cent over the quarter.
However, bricks and mortar still dominate the grocery sector and, with Christmas falling on a Thursday this year, Monday 22nd and Tuesday 23rd are expected to be the busiest supermarket shopping days of the year.
