News By Wire

Brits Set To Spend A Staggering £20 Billion On Christmas Gifts Despite Cost-Of-Living Crisis

Despite the ongoing cost-of-living crisis new research from 888ladies Bingo has found that Brits are expected to spend an eye-watering £20 billion on Christmas gifts alone this year.

888ladies wanted to find out how much money people across the UK are likely to spend and what gifts are on top of their wish list in 2022, with the results finding Brits are still willing to spread some festive cheer by splurging this Christmas.

According to the survey, the average Brit will spend a whopping £338 on gifts this year, with people prioritising Christmas gifting despite the current economic crisis.

The amount that people are willing to spend varies across the UK with 1 in 10 (13%) of people in Belfast, followed by Cardiff (8%) and Newcastle (6%) planning to spend £1,000+ for gifts this Christmas. Whereas, perhaps surprisingly, those living in London are keen to save their money this Christmas, with around a third (32%) hoping to keep it to between £100-£200.

888ladies also asked what gifts people were hoping to receive this Christmas and found that despite being willing to splurge on others, they were more than happy to receive less extravagant gifts and instead indulge their sweet tooth, with sweets and chocolate taken top spot with around a third (31%) of us choosing it as the gift they’d most like to receive.

Here are the top gifts that the nation hopes to receive this year:

1.      Sweets and/or chocolates (31%)

2.      Clothing or footwear (29%)

3.      Perfume or aftershave (25%)

4.      Cash (19%)

5.      A meal out (15%)

6.      Ticket to a show/concert (13%)

7.      A trip away (13%)

8.      Home décor (11%)

9.      Home appliances (12%)

10.   Tech accessories (headphones, smart watch etc.) (9%)

11.   Hair tools (straighteners, curling wand, hairdryer etc.) (8%)

12.   Video game (6%)

13.   Mobile phone (6%)

14.   A new pet (2%)

Clothing or footwear follows closely behind in second place with 29% of us choosing new clobber as the gift of choice and perfume or aftershave takes the final spot on the podium with a quarter of us (25%) wanting some smellies this Christmas.

As most would expect, tech accessories such as headphones and smart watches, are a favored gift for the younger audience of 25–34-year old’s (18%). Also, the stats suggest men are almost 3 times as likely to want tech accessories (13%) compared to females(6%).

It seems that the millennials are in need of a break this Christmas, with 24% of the 25-34 category hoping to receive a trip away as a gift this year. Meanwhile, Wales will be known as the city that loves an experience present, with 21% wanting to receive a show or concert as their gift of choice.

Speaking of the results, Mordehai Fitoussi, SEO Account Manager at 888ladies said: “We were interested in finding out what people were willing to spend this year on Christmas gifts, and what kind of presents they are hoping to receive. There are some surprising statistics here, and we thought due to the cost-of-living crisis the overall sum would be down, but as we can see people are still willing to spend money and spoil their loved ones.”

 

Press release information

Date:

Image File:

 
How much Brits are expected to spend this Christmas

Area / Region:

All done!
Thank you for subscribing.

Email Subscription