According to a survey, 63% of UK households said their budget for food and drink (at home or dining out), gifts, and travel will be the same as the budget for 2021. This is despite cost-of-living pressures on household budgets, NielsenIQ, a provider of consumer and retail information services, said nearly two-thirds of Christmas shoppers plan to spend as much this holiday season as they did last year.
10% of customers intend to spend more this Christmas, while 27% of consumers anticipate spending less on these categories this year.
Christmas spending is anticipated to be on par with or lower than last year. 10% of the shoppers say they would raise their Christmas spending, while 27% say they would want to spend less money in these categories this year.
Of the 1,000 persons surveyed in September, more over half (54%) said that the emotional parts of the holidays, such as spending time with loved ones, are very significant.
“In our Christmas study, we’ve observed how much emotional significance the holiday has for consumers in the UK,” said Alwyn Venter, senior commercial business partner at NielsenIQ.
The majority want to continue with the customary traditions and lavish their loved ones and themselves with gifts and delectable meals.
“At the same time, most people’s holiday spending plans haven’t changed or have even shrunk.
Customers understand how crucial it is to maximize their budget, for instance by shopping early and taking advantage of special offers.
According to the survey, the top three food categories that consumers plan to spend money on this Christmas are cheese, bread, and chocolate.
Many people stated they are seeking for quality products in addition to deals and discounts, with 37% intending to purchase expensive cheese, fresh meat, and chocolate.
