New survey reveals UK shoppers will spend between £500 and £700 on Christmas presents this year
Now that the clocks have gone back and TV adverts are starting to have a more festive feel, it’s time to start thinking about Christmas!
We all tend to spend a bit more at this time of year – whether it’s on presents, decorations, food and drink or travel – but just how much will everyone spend this Christmas?
To find out exactly that, consumer finance website Bobatoo.co.uk commissioned a survey asking 1,000 people in the UK about how much they plan to spend over Christmas 2015.
The most common amount people are planning to spend is between £500 and £700 – with 38% of respondents saying they are planning to spend that on presents.
Just 11% of people said they are planning to spend less than £300 on Christmas presents, and 22% are planning to spend over £700. The remaining 29% of people are planning to spend between £300 and £500.
In terms of other Christmas-related items like food, drink and decorations the most common plan (46% of respondents) is to spend between £200 and £300
Who gets the most money spent on them at Christmas?
Unsurprisingly, children come out on top when it comes to getting the lion’s share of the money spent at Christmas. Bobatoo’s survey found that a massive 70% of people in the UK are planning to spend most of their Christmas budget on children aged between 5 and 16.
Partners and spouses seem to get the least spent on them, with the most popular amount being between £100 and £150. Only 16% of people are planning to spend more than £200 on their other half.
Do you set a budget for your Christmas spend?
The survey found that an overwhelming majority of people in the UK (93%) set a budget when it comes to Christmas spend – but then just 18% of us actually stick to the limit.
Nearly half – 46% – admit to slight going over their budget each year, and 29% say that they always overspend ‘by a huge amount’ at Christmas.
A spokesman for Bobatoo.co.uk said:
“It is clear that, despite the recent recession and periods of economic uncertainty, the UK public show no signs of slowing down when it comes to Christmas spending.
“There is a worrying trend showing many UK consumers overspending at Christmas, which can lead people turning to high interest credit loan agreements to cover the shortfall.”
You can see the full results of Bobatoo’s UK Christmas spending habits survey here: http://www.bobatoo.co.uk/blog/uk-christmas-spending-habits-survey-results/