Seasons Greetings!
Whether or not you're able to spend time with your loved ones, I hope you're able to enjoy the festive period to the fullest.
Let's take a look at what we can expect from consumer and shopper behaviour over the next few weeks...
When do we start Christmas shopping? How much do we spend?
To get you into the spirit, check out my latest blog post to learn 8 Fun Facts about Christmas Shopping!
Saving money this Christmas
30% of people say they are not looking forward to Christmas this year, and this is even higher among lower affluence households.
Present buying is seen as the most stressful part of the festive season, as 46% of Brits who celebrate Christmas find buying presents stressful. It's a key area where people will be looking to spend less, with 51% of shoppers cutting back their present budget.
When cutting back on the cost of Christmas, gifts for children is the last place families look to save money. Parents typically spend an average of £153 on their kids, which makes up almost half of the present budget for family members.
A third of adults say they will cut back on gatherings such as meals with family, friends and colleagues (34%), or Christmas outings such as trips to see a pantomime or visiting a Christmas market (33%).
A third will also cut back on the cost of food, providing a key opportunity for food and drink brands to offer cheaper alternatives to the usual trimmings. Supermarkets are tapping into this insight with a focus on frozen food, Asda's Frozen Christmas Dinner bundle is a perfect example.
What can you and your brands do to help people save money this festive season?
As shoppers look for ways to save even more money this Christmas and heading into 2023, it will be a challenging time for many brands and retailers.
If there is anything we can do to help you or your business - get in touch!
Have a very Merry Christmas and a Happy New Year!
All the best,
Ella
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