Half of consumers plan to spend less this Christmas

Half of UK consumers plan to spend less this Christmas as inflation drives up prices and the cost of living crisis sets in.

Gifts will be an area where those looking to save will cut back on spending. Of consumers looking to spend less, one in three say they will cut their gift budgets by at least £25 per head.

Around 5% of the more than 1,000 British consumers surveyed say they have already bought all their gifts, and 7% say they will leave shopping until the last minute.

Nearly half (47%) of consumers are worried about Christmas this year, a 15% increase from 2021. With so many consumers worried about the cost of Christmas, brands need to be careful about the tone they adopt with their ads holidays, research suggests. Only…