Retail data has shown that UK shoppers are set to spend a massive £2.3bn over the Easter bank holiday weekend. Global Data’s report highlights that some 40% of consumers plan on spending more over the holiday period, with the majority of that on food and drink.

Research Analysis

The research was done by experts in retail analysis, who look at data to ascertain how and why consumers are behaving. It found that more than 70% of Easter weekend spending will be on food and drink, suggesting that a desire to socialise with friends and family is driving the trend.

Shoppers are forecast to fork out about £124.75 each, which is a rise of £12.35 from 2024. Other spending will be on Easter gifts, crafts and DIY products. Of those who are intending to buy gifts, 46% said they were planning on buying luxury Easter eggs.

The data collected by Global Data, which comes at a time when many are still feeling the pinch of the rising cost of living, has suggested that retailers should focus on offering products which provide value for money and enhance the Easter celebrations.

Valuable Use of Data

All businesses will use data collection and analysis to a certain extent, and it is particularly valuable for the retail sector. It allows them to understand their customers better, which means that they can tailor their products and marketing towards them for increased growth and adaptability.

Some may do their own data collection or use a data analysis company, such as https://shepper.com, which has expertise in this area. The data is collected through various means, including online and face-to-face. It is then used to evaluate customer preferences and purchasing habits, as well as market trends.

This means that a business will be well informed before making decisions about marketing campaigns and product development. Data is collected before and after the implementation of any changes to assess their impact and effectiveness.

Not only does this allow a business to understand its customers better, but also to learn from competitors and improve its processes for success.