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Covid lockdown UK: Seven million Britons will hit the High Street in £4 5billion spending spree

A multi-billion-pound spending spree is to begin on Bounce Back Monday as shops reopen in the next step towards freedom. Up to seven million shoppers are expected to flood the high street and take advantage of extended hours and price cuts on the first day of opening after lockdown. Analysts predict £4.5billion will be splurged in the first week amid enormous pent-up demand . Fashion chains, hairdressers, nail bars, electrical retailers, department stores, gyms and other non-essential outlets are chasing a share of the spree. Crowds of shoppers are seen on Oxford Street on December 2, 2020 in London, England Pubs, cafes and restaurants will also open again for outdoor food and drink – and alcohol takeaways – on what some have dubbed the Glorious Twelfth .

Jump In Consumer Confidence Suggests Consumers Ready To Spend

Jump In Consumer Confidence Suggests Consumers Ready To Spend
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Shoppers set to spend as consumer confidence grows

Shoppers are ready to unleash a tidal wave of spending after consumer confidence hit its highest level since before the 2008 financial crisis, research reveals.  A study by consultancy PwC showed there is pent-up demand for everything from fashion to eating out post-lockdown.  The monthly survey of 2,067 adults showed the over-65s are driving the increased optimism as the positive impact of the Covid vaccine rollout promises to feed through into the economy.  Spending spree: The over-65s are driving the increased optimism as the positive impact of the Covid vaccine rollout promises to feed through into the economy Research showed older age groups have suffered the least financial damage from the pandemic with more than a quarter of over-65s saving money since the Covid outbreak. 

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