Christmas Cut Backs Occurring According to New Survey Results Showing 83% Are Concerned about Paying

Published: Wed Dec 01 2010

With results of a new national survey being released many Brits are seemingly lacking festive cheer as 83% say they are worried because they have doubts about how to pay for gifts and festivities this year. 26% said they have thought about the possibility of abandoning; and 84% admitting less money will be spent for Christmas this year.

With more than 1,000 UK consumers taking part in the survey, 1 in 4 said this year 50% less would be spent for Christmas compared to the previous, and up to 25% less by one third.

57% of those who took part in the survey said cheaper or less gifts would be bought for their partner; 49% are going to buy their children less gifts; 54% are reducing the amount of food for the festive period they buy; 54% are not going to buy new clothes for parties; 30% are not attending as many parties this year for Christmas; and not buying a tree this year are 12%. Simon Terry commented, "Many UK consumers are very worried about how they will be able to afford Christmas this year, especially with its cost rising each year, increase job security worries and the VAT increase due in January."

Even though good will is associated with Christmas only 8.5% are getting bonuses from their employer which will help them with the costs of Christmas. As the costs go up for many at this time of year 42% have admitted to being in debt in the past as they had to pay for gifts, entertainment and parties.

There were 15% of respondents who admitted that they would be selling jewellery or gold that belonged to them to finance Christmas; with one third intending to cover the costs with a credit card and 3% with a short term loan. 35% of those financing Christmas with credit stated they were worried about their interest rates but this was their only option to pay for this year’s festivities.

1 in 4 participants said they would be using eBay or going to charity shops to buy used gifts for Christmas.

Simon Terry added, "As the concern about affording Christmas is increasing for many – the trick to making your cash go further is to spend wisely by not accepting RRPs and shopping around instead for the best price; using money off vouchers therefore you can save money on most brands."

39% of survey respondents said between £500 and £1000 would be spent for Christmas; £250 to £500 by 32%; £1000 to £2,500 by 16%; and more than £2,500 by 2%.

When buying children’s Christmas presents, 3% said on each child thy would spend more than £1000; more than 1 in 10 will spend £300 to £500; 22% will spend £150 to £300 ; and 43% will spend £50 to £150.

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Media contact –
Rachel Builder & Jenny White
T: 01625 511966

• Worrying about paying for festive times are 83% of Brits
• After paying for Christmas 42% are in debt
• Using eBay or charity shops to buy pre-owed gifts are 1 in 4 respondents
• To pay for Christmas 14% are going to sell their own jewellery or gold
• 84% say they are reducing the amount of money they will spend on Christmas this year

Contact Name: Simon Terry
Contact Email:
Contact Phone: 0845 871 2069

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