Shoppers Won’t Let Cost of Living Crisis Dull Christmas Spending

As Christmas fast approaches, a national family-owned jewellery, watch and diamond retailer has noted a spike in early December sales as shoppers flock to buy special gifts for loved ones, despite the cost of living crisis.

Despite early signs of recession in the UK, high-street jeweller, Beaverbrooks, which has 70 stores nationwide, has seen an 11 per cent uplift on sales versus 2021 – its most successful year to date.

The early festive rush follows bumper Black Friday performance for the retailer, with sales up 27 per cent on last year as customers kick-started their Christmas shopping ahead of December.

With strong growth across stores, the jeweller is expecting another successful year with people still spending on more sentimental items such as jewellery, watches and diamonds, despite the challenging economic climate.

Anna Blackburn, managing director of Beaverbrooks, said: “After a hard year of rising costs, people are not letting the Christmas light be dulled and we are seeing a trend of people continuing to invest in special gifts for loved ones.

“With the last two years’ celebrations being disrupted by lockdowns and Covid, this is the first Christmas since 2019 where people have really had the chance to enjoy the holiday season – spending time seeing loved ones, visiting Christmas markets and enjoying buying gifts for friends and families.


“As a result, we’ve seen people spend considerably more when they shop with us and strong sales across many of our product categories. Gold jewellery and watches have seen a particularly strong performance as well as other luxury items, including ‘Essence’, a new diamond collection exclusively designed for Beaverbrooks, which continues to be popular among shoppers.

“The difficult climate of the past few months has made people even more determined to make this Christmas a special one for their loved ones. We look forward to helping customers find that perfect gift, whether that be in-store or online, and providing an exceptional shopping experience.”

Beaverbrooks is an award-winning, family-owned jeweller established in 1919 with 70 stores across the UK, providing exceptional quality diamonds, jewellery and watches. Having always championed a people-first culture, the company won Best Retailer to Work For and 6th place in the 100 Best Large Companies to Work For at this year’s Best Companies Awards.