Here in Malaysia, according to a recent Nielsen report, 9 out of 10 Malaysians believe the country is currently in a state of recession and are tightening their belts as a consequence.
This has led the Malaysia Retailers Association to lower their retail growth forecast to 4% with quarterly growth rates at their lowest since the Asian financial crisis of 1998.
Some sectors, such as supermarkets and department stores have seen quarterly slumps of 18% and with the end of the year sales and Christmas period unlikely to lift revenue, are bracing themselves for a terrible 2015.
No such issues for the UK retail industry as the Barclays Christmas survey 2015 reports 79% of UK retailers expect an increase in sales over 2014.
A far cry from 2013 when Company Watch predicted over 5,000 UK retailers would fail to make it to the ‘killing season’ the post festive months from the end of December to mid February.
With over 25% of retail sales generated in the lead up to the big day, the big retailers will be fighting tooth and nail over more than £40 billion in sales with Christmas advertising campaigns signalling the start of the contest.
Here’s a look at some of the best UK Christmas 2015 advertisements out there so far.
John Lewis – The Man on the moon
The Body Shop “Jingle Bells” by Mr President
Sainsbury’s – Mog’s Christmas Calamity
Harvey Nichols – Avoid Giftface
Marks & Spencer – The Art of Christmas by Rainey Kelly Campbell Roalfe/Y&R
Cadbury “Christmas 2015” by Fallon London
Net-a-Porter and Mr Porter “All for you”
Lloyds Bank “To the Stars” by Rainey Kelly Campbell Roalfe/Y&R
Currys PC World “Spare the Act” by Abbott Mead Vickers BBDO
Waitrose “Make it with Waitrose” by Adam & Eve/DDB
Debenhams “Found it” by J Walter Thompson
Burberry “Celebrating 15 years of Billy Elliot”
Celebrations “Christmas Tree” by Abbott Mead Vickers BBDO
Marcus Osborne is founder and CEO of Kuala Lumpur-based Fusionbrand. You can read more from Marcus on his blog Brand Consultant Asia.