Britons are expected set to spend £11.5 billion over the Easter week — equivalent to £410 per household — as warm weather gives retailers a boost.
The Centre for Economics and Business Research has forecast that spending will rise sharply compared with Easter last year, with garden centres and DIY stores among the beneficiaries.
Temperatures are set to reach 25C in southern Britain this weekend, with the Met Office saying that Easter Sunday could be one of the warmest on record. The CEBR, a leading economic think tank, said that such warm weather would help spending to increase by 8.5 per cent compared with Easter last year, when rain deterred shoppers.
An improvement in sales will provide relief to retailers, which have had to contend with falling shopper visits, rising costs and the challenge of online competition. Consumer confidence has been muted in the face of political uncertainty, even though real wages are picking up and employment is at record highs. According to the GfK consumer confidence index, people have been pessimistic about their finances since Britain voted to leave the European Union in June 2016.
Owen Good, Economist at the CEBR, said: “Easter weekend typically marks the end of post-Christmas prudence among consumers and can provide a much-needed boost to high street shops after a slow first quarter. British consumers are set to open their wallets over the coming days, with an excellent long Easter weekend predicted for UK retailers.” He said that garden centres would be especially thankful that Easter falls three weeks later than last year.
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