Five Ways Christmas Spending Trends Have Changed
To no surprise, Christmas spending across the UK is predicted to fall for the first time in five years. But while we make conscious cutbacks on clothing and other household goods in the run up to Christmas, many of us repeatedly fail to stick to our festive budgets. But, how much is an acceptable amount to spend on Christmas presents? With no definite answer, turning to an emergency direct lender payday loan can seem like the only solution to getting your loved ones the gifts they want, but trends suggest otherwise! Over the past few years, Christmas spending trends have changed dramatically. Here, we explore how.
- Less of Christmas spending is on food
Less money is being spent on food and drink because Christmas food and drink is getting cheaper – well, unless you’re a beer or whisky fanatic with some bottles and packs costing upwards of £20. We’re tightening our belts on what we spend our money on, cutting out the bits we no longer feel essential to host Christmas Day at home and while year after year Christmas sees us spending for more than we planned, our budgeting efforts are improving dramatically. By no means does spending less money on festive goods involve skipping dishes at the dinner table. There’s no need to forgo the much-loved mince pies or a slice of matured Christmas pudding (if you haven’t already over-indulged) – Take Aldi and Lidl for example. You can find all your festive favourites here for as much as half the price!
- More money is being spent on children
Compared to previous years, parents are spending much more on their children’s Christmas presents and Christmas only seems to be getting more expensive each year. Even though there are so many toys (and video games) on the market, we can almost guarantee that your little one(s) only want the ones their friends already have, or have asked for themselves – which can come at a price. Popular children’s toys are sold with bigger price tags, because retailers know that the product will sell – Nowadays, you can expect to pay between £20 and £50 per toy, if not more! That’s £200 for just 4 toys to keep your children entertained for a couple of months, if not hours, until the next ‘big thing’ is distributed on the shelves.
- More people are buying online
If anything, now’s the time to start buying Christmas presents (if you haven’t already)! An increasing number of people are turning online to get their Christmas gifts delivered directly to their door. Not only is this a convenient way of ensuring your gifts arrive on time, but to save money. There are several discounts available online whether you are a student or lucky enough to come across a mid-season sale or voucher code! Ordering online is also a great way for busy-bee’s to stay organised this Christmas with the ability to order the best goods at the click of a button – and for less! Not only does ordering online keep your wallet happy, but you friends face will light up when they see what’s inside their carefully wrapped parcel.
- Holiday shopping starts long before Black Friday & Cyber Monday
For those that are unaware or may be a little confused about what ‘Black Friday’ is, it’s the Friday following Thanksgiving in the United States. The official shopping holiday is no longer limited to the US, though. It has now become a trend in the UK and across the world. Shoppers scramble out of their front doors at midnight to get the best discounted products and top deals – which usually cater for a number of Christmas expenses and trends. Some well-organised shoppers, however, start holiday shopping before Halloween so their November salary isn’t solely spent on the fanciest Christmas crackers, latest toys and LED Christmas-tree lights because let’s face it, they rarely work after a year stored in a saturated cardboard box!
- Shared Experiences
An increasing number of Christmas shoppers are opting to chip into luxury holidays and shared experiences with their partner, friends or even parents than spending money on one minute wonder gifts. While this may be more expensive than a Pandora charm or Nike trainers, people are getting much more enjoyment out of 2-day spa retreats two hours away that they can enjoy with their favourite person, or people! Plus, mini breaks such as these can be found on websites such as Groupon for even bigger savings!