Market research firm Verdict says share profits will contribute to increased spending as shoppers feel that 'things are improving'
Windfall profits collected by hundreds of thousands of people on theirRoyal Mail shares are expected to lead to an extra spending splurge in the runup to Christmas.
The market research firm Verdict said profits on Royal Mail shares together with compensation payments from mis-sold payment protection insurance would lead to a "halo effect" – making consumers think that "at last things are getting better".
Maureen Hinton, Verdict's director of research, said shoppers were expected to spend an extra £1.9bn on Christmas compared with last year. Spending in the last three months of the year is expected to come in at £88.4bn, compared to £86.5bn in the same period last year.
The forecast 2.2% rise in spending would be the strongest since the recession began.
Verdict predicted that online sales would jump 12% to £11.6bn, with Amazon named as the biggest beneficiary.
Article Source : http://www.guardian.co.uk
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