The latest ONS retail figures suggest that there has a been a generational shift in purchasing patterns.

Older consumers remained committed to the traditional Boxing Day sales taking the opportunity to purchase furniture, while younger people took advantage of the earlier Black Friday sales as the day for purchasing electronics and gadgets. 

Although retailers had a busy December, January is likely to have had reduced consumer spending as financial resolutions are imposed and real wages continue to shrink. 

However, one way that could encourage consumers to spend more on big ticket items is through retailers offering alternative, flexible payment options including spreading the cost of purchases.