- 38% of Brits are concerned about the extra demand on finances this December
- 57% are looking to spend less this Christmas
- Food, confectionery and drinks top the gift-giving list, with 41% of Brits choosing to buy from this category
- 57% of Brits are expecting work to cut back on Christmas celebrations due to cost of living
LONDON, 17 October 2023: New research conducted by global data and insights company, Pureprofile Limited (ASX: PPL), reveals that another tight Christmas is on the books as rising prices continue to eat into Brits’ Christmas budget and fuel financial pressure concerns.
Now in its fourth year in the UK, Pureprofile’s 2023 Christmas Report is a global report based on the insights of 4,500 panel members from Australia, New Zealand, the UK, the USA and Singapore. It found that the majority of Brits (57%) were curtailing their festive season celebrations, with 42% expecting to buy fewer gifts and 57% avoiding travel to cut down on discretionary spending. Despite having to work within tighter budgets this year, over half (55%) of Brits are still feeling positive about the holidays.
This is in line with most countries, with 65% of those in both Australia and New Zealand, and a significant 73% of Singaporeans reporting that they expect cost of living concerns to hold back their Christmas spending this year. The outlier is America, with 53% stating that the increased cost of living will not impact their spending.
Preparations for Christmas Day
Food will be a focus this festive season as 37% of Brits choose to spend less on food and drinks, this is lower than 45% in 2022. While the average food and drink budget (£200) is level with two years ago, around 1 in 4 are also looking to find cheaper alternatives as Brits continue to battle rising grocery prices. Meanwhile, 24% reported that their ultimate holiday wish would be the gift of lower energy bills this year.
As per previous years, Brits are keen to kick start their Christmas shopping early, 74% will shop for presents before December. Globally, most people intend to shop between November and early December, but a significant proportion of Americans plan to leave their shopping until the week before Christmas.
Pureprofile’s CEO, Martin Filz, said, “This marks yet another Christmas season characterised by tighter budgets and reduced spending. While this is not surprising, it is interesting to note where Brits are making the most cuts – discretionary spending on travel and gifts are often the first to be reduced in challenging times. However, we’re also now looking to the likes of essentials like food and drink to recoup some celebration costs. We’re seeing a thriftier UK that’s placing an emphasis on thoughtful and intentional spending; where the holiday spirit is retained, but celebrations take on a simpler, more meaningful tone.”
“As needs and priorities continue to evolve this festive season and in the future, it’s imperative that businesses, policymakers, and government agencies remain deeply attuned to consumer sentiments and trends. The data from our Christmas Report underscores the dynamic nature of consumer behaviour and stresses the importance of agility and adaptability. By staying in tune with consumers and leveraging insights to shape strategies, we can better support during these changing times.”
Gifts underneath the tree
Similar to last year, Brits are more intentional about making their money count, spending on those that matter most by buying fewer gifts (42%) or choosing only to buy gifts for children (15%). Gift budgets have also decreased slightly for the second year in a row to £322 in 2023.
Gifting budgets have also seen a decline in New Zealand ($47 less) and Australia ($36 less). Meanwhile, America’s average gifting budget was $420, and Singapore’s was $223.
Gift preferences among Brits have remained fairly steady across recent years, with clothes and shoes being the most sought-after gifts to receive (35%) and food and drink being the preferred gift to give (41%). Other desired gifts this year are money (34%) and food or drinks (33%). Those in the USA also reported to prefer clothes and shoes, while Australia, New Zealand and Singapore wanted gift cards and money.
Out of the five countries, America was found to have the strongest gifting culture, whereas Australia was the weakest.
‘I’ll be at home for Christmas’
Globally, around half of the population intends to travel for Christmas 2023. Only a small group ( less than 10%) will travel internationally in most nations, except Singapore where almost a quarter of people intend to travel abroad.
The majority of Brits (57%) will stay local for the holidays, and 39% will travel locally or within the country.
Most (47%) Brits also report that they will spend Christmas Day enjoying a meal with their family at home, while a few will escape to a hot day at the beach (15%). Surprisingly, 11% would want to spend time alone.
Outside of personal celebrations, the report also revealed that 40% of working Brits do not expect a workplace Christmas party this year, and over a third (37%) expecting their work festive celebrations to be the same as last year.
Additional areas covered in Pureprofile’s 2023 Christmas Report include attitudes on annual leave during the holidays, beliefs on religion and spirituality, and sentiments towards Christmas.
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About Pureprofile
Pureprofile’s vision is to deliver more value from the world’s information.
We are a global data and insights organisation providing industry-leading online research solutions to agencies, marketers, researchers and brands & businesses.
Our research delivers rich insights into real human behaviour and provides the “Why” behind the “What” through our unique ResTech and SaaS solutions. We build in-depth profiles of consumers via our proprietary and partner panels and give businesses the ability to understand, target, and ultimately engage with their audiences.
The Company, founded in 2000 and based in Surry Hills, Australia, now operates in North America, Europe and APAC and has delivered solutions for over 850 clients.
Media contact:
Tim Potter
tim.potter@pureprofile.com
M: +44 (0)783 3702 450
