CCPC Christmas spending & financing 2021 research
Summary
The CCPC commissioned Ipsos MRBI to conduct research to measure consumer behaviours on spending and financing during the Christmas period 2021. Research was carried out across a nationally representative sample of 1,044 interviews between 1-14 November 2021.Publication details
- Publication date:10 December 2021
- Industry:Financial and insurance services - L, Wholesale & retail trade - G
- NACE code:Retail trade - G.47
Documents
Research report Christmas shopping 2021PDF | 614 KBResearch report Christmas shopping 2021 PDF | 614 KB - Opens in new window
Summary findings include:
Expected spend on Christmas:
- 6% less than €100.
- 31% between €100 and €499.
- 29% between €500 and €999.
- 19% between €1,000 and €1,999.
- 11% €2,000+.
Spending is significantly higher among 35-54s, with 43% planning to spend at least €1,000 & a further 17% of this age group expecting to spend at least €2,000.
Having children under 18 is a key factor in Christmas spending. Those with children living in their household planning to spend an average of almost 80% more (€1,397) than those without children (€787).
Expected spend 2021 compared to 2020:
- 57% said they would spend about the same as they did over Christmas 2020.
- 20% intending to spend less than they did last year.
- 22% said they plan to spend more this Christmas.
Financing Christmas:
- 65% of respondents said they will use their savings to cover Christmas costs.
- 1 in 3 (34%) plan to use some form of borrowing (incl. credit cards, a loan from a bank or credit union, store finance, or a loan from a money lender).
Most popular form of credit this Christmas:
- Credit cards (29%).
- Store finance options (4%) such as hire purchase or ‘Buy Now Pay Later’ credit arrangements.
- 4% of respondents plan to sell investments to cover their Christmas costs.
- 3% intend to avail of a traditional loan from a bank or credit union.
