Sky high inflation and the current cost of living squeeze will lead to consumers starting their Christmas shopping earlier this year, a report from eBay Ads concludes.
The Christmas Spend Trends research surveyed 2,010 UK consumers and found that 32% of consumers are planning to start their Christmas shopping earlier than last year.
One in three say starting early is a direct reaction to the impact of inflation on Christmas shopping.
The eBay research does not drill into precisely what customers will spend their money on this year, but focus instead on the type of gifts they will buy.
Over half (56%) plan to buy thoughtful gifts for friends and family this year.
Three in ten say they plan to buy functional gifts and 23% will buy essential items for presents, suggesting a preference for purchasing gifts that are useful at a time when many Brits are struggling to afford everyday items.
Despite the squeeze on household budgets, the British remain optimistic about the festive season.
Although one in five say they expect to feel stressed this Christmas, more than half (52%) are optimistic that they’ll be able to celebrate Christmas as usual this year, and 27% think Christmas will feel exciting and a big occasion to look forward to.
“With many Brits more stressed and worried about their finances this Christmas, it’s clear that businesses need to be particularly sensitive to their moods and needs and adapt strategies accordingly. As well as appealing to their desire for good value, this means supporting shoppers in their quest to find the most special, meaningful or functional products that will help make this Christmas a merry one,” says Upasana Gupta, GM, eBay ads UK.
