How much are you thinking of spending this Christmas? Is it more or less than last year? According to a study of over 2,000 Britons by Give as you Live, Christmas gift expenditure will reach an average of £289 this year.
The tentative economic recovery is beginning to affect consumers spending habits, with the survey also finding that three quarters will spend the same amount or more this Christmas compared to last year.
Who are the biggest spenders?
Retailers shouldn’t expect much of their Christmas income to come from the younger generation with the 16-24 age group spending an average of £181.80. However despite spending the least amount of money on average, 83% of these say they will spend the same or more than last year, which was more than any other age demographic. The 34-45 age group plan to spend the most with an average spend of £343.65.
In the gender stakes, it is women who are planning to spend more than men. The average UK female is expected to rack up £294.75 on Christmas purchases, whereas her male counterpart will blow £281.17.
Londoners will spend the least
In a chart of the regions and their prospective average spend; Northern Ireland is the highest with £384. The North East and North West follow, with gross average purchases of £365 and £297 respectively.
The regions spending the least will be London with a £259 planned spend, East (£260) and Wales (£276).The research shows that of the 11 British regions surveyed, the top 6 for Christmas spending are all north of the Watford Gap.
The survey also discovered that whilst folk in the North spend more on gifts, this is not the case with charity.
Londoners and those in the South East of England give individual donations averaging £18 at Christmas, significantly more than the Welsh who give an average of £12.92.
Polly Gowers OBE, CEO and Founder of Give as you Live, commented
“Christmas is without doubt one of the busiest and most competitive times of the year for retailers. With many consumers planning to maintain or increase their spending this year, retailers need to be looking for ways in which they can stand out. Our research has proven that CSR and charity donations DO matter to consumers and can make the difference between a lost sale and a satisfied customer.”
“It is fantastic to see that the changing world of technology and online are flipping some tired stereotyped on their head.
To get the most gifts this Christmas, it seems like the North is the place to be.”