Family Spending and Traditions this Christmas
1.Families are cutting back this Christmas with 27% saying they are going to spend less. This is due to many trying to be savvier and to not go overboard and overindulge – the Martin Lewis effect. However, for quite a sizable portion of families they have no choice, as their household income increases to be squeezed.
2. When they are choosing gifts over a quarter of families will be forking out on an experience for one of their loved ones, 10% on concert or show tickets and 7% on charitable subscriptions. Families are keen to share whether on fun times or helping others.
3. A significant 4 out of 5 families will be making an effort to spend via independent businesses this year, whether online or on their local high street. Visa’s ‘local’ Christmas advert is ringing true. Although Amazon will still take prominence families want something niche, special or different, plus supporting ‘local’ is a dual benefit. We are actually hearing of some families searching in Amazon and buying in Waterstone’s this year!
On a lighter note as Sainsbury’s advert highlighted – Christmas traditions are still integral – over 80% of families will be playing a board game (apparently The Mexican Train game is big this year) and ¾ will be tucking into sprouts!
‘It’s the kids that insist we eat sprouts, wear garish jumpers and play board games – it’s Christmas tradition!’