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FOOL'S EYE VIEW
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With ten days still to go until Christmas, I'm fairly certain that I've shopped for everyone I need to. I shall have to do a head count but I think I've just got to pick up one more present, get the wrapping paper and then I'm done with Christmas shopping for the year. Phew! According to a new report from the consumer analysts, Mintel, about 40% of the population probably haven't even started their gift-buying yet. Not surprisingly many people find it a bit of a chore so they leave it to the last minute and then panic! I think I might avoid my local high street on Christmas Eve – it's bound to be heaving with shoppers in headless chicken mode! Strangely enough, the downbeat economic news of the last three months hasn't even made a dent in our festive spending habits. According to Mintel, more than three quarters of us plan to spend as much if not more than last year with only 14% of Brits feeling inclined to tighten their belts as a result of recent global events. The Mintel report is just the latest in a series to have indicated that consumer confidence is holding up. The Confederation of British Industry says sales last month were 'significantly' above average and the consultancy firm, Deloitte & Touche, claim that consumer spending is helping to prop up the economy and stave off recession. I must admit I've gone a bit over the top myself this year although it seems I'm still one of the standard spenders. The average amount of expenditure on gifts is £376 with men spending 11% more than women. Around a fifth of adults will pay out more than £500. I suppose much of it depends on how many people you have to buy for. I was horrified yesterday when an acquaintance of mine told me she had 22 people to buy presents for and was only half way through her list. The average consumer typically buys gifts for eleven close friends and family at Christmas. However many presents you're having to get this year, just make sure that, if you're buying for children that the gifts are 'cool' enough. Mintel says that children as young as eight are turning their noses up at anything that might be regarded as a 'toy'. They want DVDs, television sets and mobile phones these days (although anything to do with Harry Potter will clearly have the appropriate street cred). It's not surprising that consumers are spending more when their children have such expensive tastes! Curiously Mintel say that only 16% of people will go into debt because of Christmas this year. I'd have expected it to be more. But in spite of the economic gloom and fears over job security, it seems UK shoppers have money to spend and they intend to spend it. The Chancellor of the Exchequer will be pleased.