CCPC publishes Christmas shopping research
December 5, 2022
The Competition and Consumer Protection Commission (CCPC) has published its Christmas shopping research which has found that that 68% of consumers are planning to put their savings towards shopping for presents, food and decorations over the festive season, while 24% intend to use a form of borrowing.
Average expected spend of €1,200
Research findings show that consumers are expected to spend an average of €1,200 on Christmas shopping this year, a 20% increase on Christmas expenditure in 2021. Over one third of shoppers will spend an average of at least €1,000, while households with children are due to spend almost €1,600. The 35-44 age group intend to spend the most over the festive season with an average of almost €1,500.
Price increases causing extra spend
Price increases were cited by 73% of consumers as the reason for increased spending this year. Making Christmas extra special this year was also a key reason for 42% of shoppers, while 29% cited an increase in income as a reason to spend more. 20% have more savings to put towards Christmas this year compared to last year.
1 in 4 will use credit
The number of consumers who plan to borrow to fund Christmas expenses has dropped to 1 in 4, compared to 1 in 3 last year. In addition, the number of consumers who plan to use credit cards to finance Christmas has almost halved, dropping from 29% in 2021 to 15% in 2022. Credit cards remain one of the most expensive forms of credit available to consumers.
Find out more about our Christmas shopping research.
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