Will shoppers be cutting back this Christmas?

Just over half (59 per cent) of UK adults say they will cut back on their Christmas spending this year, with the average amount spent per adult on Christmas presents being £240. 

This amount is, in fact, a £27 increase on how much UK shoppers septa last year, however, indicating that consumer confidence may actually be on the up.

Most people say they plan to be spend less this year on their Christmas shopping, saying they simply can’t afford it (64 per cent), while four in ten (40 per cent) say they have less money this year compared to last year, the research by VoucherCodes.co.uk shows.

However, it seems this may be a preconditioned way of thinking for Britons after the last few years of scraping by as UK consumers are predicted to spend on average of £240 each this Christmas which is actually more than the £213 Christmas average spend in 2012. 

“Christmas shopping this year paints an interesting picture, with shoppers saying they will spend less than last Christmas,” says Anita Naik, lifestyle editor of VoucherCodes.co.uk. 

“However, the average spend is anticipated to be £240, higher than last year and indicating some consumers may be more confident than they think when it comes to Christmas shopping this year.”

It seems that it will be the women being more frugal on their partners, with 37 per cent saying they will be spending less on their husbands / boyfriends (this is up from 28 per cent last year), whilst just 19 per cent of men say they will be cutting back on their wives / girlfriends.

However, it isn’t just Christmas shopping where UK adults are planning to watch the pennies this year. Over half (53 per cent) say they will cut back on socialising with friends this Christmas to try and save money, whilst six in ten (60 per cent) say they plan to eat out at restaurants less over the festive period.

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