Brits Planning to Spend the Same Amount of Money on Christmas Gifts as Last Year

Christmas is on the horizon, and we all know what that means: Christmas shopping. While the festive season is certainly about spending time with family and friends, you can’t ignore the importance of Christmas for both brands and consumers.

However, with the cost of living crisis at our backs, will Christmas time become more of a burden than a joyous occasion for Brits?

For some, maybe, but for others, it appears that they will continue to spend the same amount of money on Christmas gifts as they did last year.

Not Letting the Economic Climate Faze Christmas Spending

A report by Clear Channel UK has identified how much Brits are planning to spend this year on Christmas gifts, in comparison to last year. Here are the findings:

• 8% plan to spend £0 (same as last year)
• 11% plan to spend £1-50 (same as last year)
• 17% plan to spend £51-£100 (1% more than last year)
• 23% plan to spend £101-£200 (2% more than last year)
• 22% plan to spend £201-£400 (same as last year)
• 13% plan to spend £401-£1000 (3% less than last year)
• 6% plan to spend £1000+ (same as last year)

Although economic turmoil continues to plague Brits to this day, they continue to be willing to spend the same amount of money on Christmas gifts this year as they did last year. With real household disposable income per person expected to fall by 3.7% this year (the biggest fall since 1956), the results of the report might be surprising.

Who People are Buying Christmas Gifts For

Another report finding was the recipients of Christmas gifts. According to the report, 63% of gift recipients were partners, followed by 56% being other family and 55% being siblings. These are the top three gift recipients that individuals put the most time and effort into when planning Christmas gifts.

It’s worth noting that parents came close to siblings at 54%, soon followed by friends at 47%. At the bottom of the list stood grandparents and work colleagues at 15% and 10% respectively.

The Most Popular Christmas Gifts

In addition to this, the report also discovered the most popular Christmas gifts, which saw clothing at the top spot with 35%. Toys and food and drink tied second at 27%, followed by gift vouchers/cards at 24%, books at 23%, both jewellery/watches and others at 13%, and technology at 11%.

These figures were further broken down into the most purchased gifts by gender, with clothing remaining the popular choice for both men and women (28% and 43% respectively). This was then followed by food and drink by men (21%) and toiletries/cosmetics by women (35%).

If you are interested in Christmas gift inspiration, the above list might be worth looking into!

Nonetheless, it appears that Brits are not allowing the cost of living crisis to faze their holiday season! So, why should they let the economic climate affect their festive spirit?

After all, if they can still afford Christmas gifts, then is there really a problem at hand?