Time to stock up and invest in some festive cheer?

Retailers are leaning on Christmas marketing as investors look for stability after recent tech-market turbulence, even as interest rates rise and inflation climbs. In the UK, festive campaigns from Marks & Spencer, Tesco and John Lewis have been rolled out, while Oxford Street’s lights are set to switch on Monday with a Harry Potter theme. Analysts say the near-term test for the sector will be how shoppers respond to cost-of-living worries, higher energy and agricultural input prices, and intense supermarket competition. M&S’s chief executive Stuart Machin says many consumers are saving now for Christmas. Investors are also watching Tesco’s growth areas beyond grocery, including rapid delivery and retail media.