Brit Shoppers Maintain Steady Christmas Gift Spending Amid Economic Challenges
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As Christmas approaches, the excitement for gift-giving is palpable among Brits. Despite the current economic climate, marked by rising inflation and a cost of living crisis, a recent report reveals that British shoppers are set to spend the same amount on Christmas gifts as they did last year.
Shopping Preferences for Christmas Gifts
According to findings from Clear Channel UK, 41% of British consumers prefer a combination of online and in-store shopping for Christmas gifts, while 34% choose to shop exclusively on the high street, and 25% favor online shopping. These preferences reflect in the retail sales figures, with store-based retail sales hitting £52.18 billion in contrast to online sales at £30.02 billion during the festive season last year.
Expenditure on Christmas Gifts
Despite the financial pressures, the tradition of gift-giving remains strong. The report indicates consistent spending patterns among Brits, with a slight increase in the number willing to spend in the £51-£100 and £101-£200 brackets, by 1% and 2% respectively. This demonstrates a resilience in maintaining the festive spirit of gift-giving, regardless of the 6.7% increase in consumer prices compared to last year.
The Significance of Gift-Giving
The tradition of exchanging gifts at Christmas is deeply ingrained in British culture and is a significant way of showing appreciation and love. Despite the high inflation rates, Brits are eager to make the season festive and joyous with gifts, focusing on creating lasting memories and special moments with friends and family, rather than dwelling on the financial burden.
