Only 63% of Christmas shoppers ‘plan to spend as much this year as they did in 2021’
Nearly two-thirds of Christmas shoppers plan to spend as much this festive season as they did last year, despite cost-of-living pressures on household budgets, a survey has found.
Some 63% of UK households said their budget on food and drink (at home or dining out), gifts and travel will be the same as 2021’s budget, according to consumer and retail information services company NielsenIQ.
Nearly three in 10 (27%) anticipate spending less money on these categories this year and 10% of the shoppers plan to spend more this Christmas.
The expected expenditure this Christmas is equal or less than last year. 27% would like to spend less money on these categories this year and 10% of the shoppers indicate they will increase their budget for Christmas.
More than half (54%) of the 1,000 people surveyed in September indicated that emotional aspects of the Christmas holidays, such as celebrating with family and friends, are very important.
Alwyn Venter, senior commercial business partner at NielsenIQ said: “In our Christmas study, we’ve seen how much emotional value the holiday has for consumers in the UK. The majority do not want to give up the usual traditions and spoil themselves and their loved ones with gifts and good food.
“At the same time, the budget for the festive season has remained the same or even decreased for most people. Consumers are aware of how important it is, therefore, to make the most of their budget, for example by shopping early and taking advantage of special offers.”
