Clarke plays Kate, a cynical young woman who's struggling to get her life back on track following a near-death experience the previous festive season.
Frustrated with her job as an elf at a Christmas store and dreaming of pursuing a career as a singer, things begin to turn around for her after she meets love interest Henry Golding (Crazy Rich Asians).
Thompson, who stars as Kate's very concerned mother and also co-wrote the script, looks to have some of the best lines in the film, telling a therapist in one scene that her daughter is "eating rubbish" and "drinking like the pirate".
Rounding out the star cast is Michelle Yeoh, who plays Kate's long-suffering boss at the Christmas shop.
So far, so rom-com, but after an earlier trailer was released in the USA, some took to social media to speculate there might be a supernatural twist to the tale and that Tom was, in fact, a ghost.
henry golding doesn't speak to anyone but emilia clarke in that trailer. he also wears the same outfit multiple times. therefore, he is a ghost, or her conscience, or her guardian angel.
Addressing the rumours, Feig told Gamesradar+ his movies were always "good-natured and uplifting" even when they had a dark element (like his 2018 film A Simple Favor).
"I never make a movie to upset people, so I think people will be very happy with how it pans out," he said.
The latest trailer appears to tick many of the traditional Christmas movie boxes: picturesque snowy street scenes, a mildly-dysfunctional family and a feel-good soundtrack, featuring 15 — yes, 15! — George Michael songs.
Movie-goers will be in for a treat too hearing Clarke's vocals. Feig said he didn't even know she could sing before casting her in the role.
"I kind of hired her and thought, 'Oh gosh, I didn't ask if she could sing.' But then I saw some Dolce and Gabbana commercial where she sings in Italian, and then I knew that was not a problem."
Last Christmas opens in New Zealand theatres on November 7.