Originally published: B&T, 17 October 2023
New research conducted by global data and insights company, Pureprofile Limited, reveals that another tight Christmas is on the books as rising prices continue to eat into Australians’ Christmas budget and fuel financial pressure concerns.
The 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.
Now in its fifth year, Pureprofile’s 2023 Christmas Report is a global report based on the insights of 4500 panel members from Australia, New Zealand, the UK, the USA and Singapore. It found that the majority of Australians (65 per cent) were curtailing their festive season celebrations, with 42 per cent expecting to buy fewer gifts and 60 per cent avoiding travel to cut down on discretionary spending. Despite having to work within tighter budgets this year, over half (54 per cent) of Australians are still feeling positive about the holidays.
This is in line with most countries, with 65 per cent of those in New Zealand, 57 per cent of those in the UK, and a significant 73 per cent of Singaporeans reporting that they expect cost of living concerns to hold back their Christmas spending this year. The outlier is America, with 53 per cent stating that the increased cost of living will not impact their spending.
