Originally published: Retail Biz, 11 November 2022
Cost of living hikes will see Australians buying fewer gifts this Christmas as families work within narrower budgets when compared to previous years, new research by global data and insights company, Pureprofile has revealed.
Pureprofile’s 2022 Christmas Report shows that Australians are regaining their pre-pandemic festive spirit, with 57% feeling emotionally positive about the season; a slow catch up to 65% from 2019. Spending habits are yet to catch up with pre-Covid levels with Australians reporting that they are unable to spend lavishly on gifts. In fact, three in five mention they will spend less on gifts this year compared to the previous year.
