Christmas is off to a weak start for retailers relying on the crucial period to boost their sales. Festive spending is forecast to drop 13% to £20 billion ($25 billion) this year, according to a separate survey by PwC that was also released Tuesday. "The cost-of-living crisis has taken its toll on Christmas spending for many households, and the continued economic conditions are testing consumer resilience," said Paul Martin, UK head of retail at KPMG.
