Christmas shopping seems to start earlier and earlier every year. People no longer hunt around the shop on Christmas Eve for presents, as everything is wrapped and ready weeks in advance these days.
If you have lots of people to buy for and luxury gifts to wrap, are you among the one-third of shoppers who plan to finish their festive purchasing by the end of November?
So eager to not spend December running from store to store, 35 per cent of consumers intend to be finished with their shopping by Black Friday weekend, which falls on November 24th this year.
The biggest reason behind this early shopping spree is to spread the cost of buying gifts, so buyers’ December paypacket is not hit with a huge bill.
Todd Latham from Checkout Finance provider Divido, which conducted the research, said: “Consumers are increasingly cautious of snapping up Black Friday Deals and this shift in consumer shopping preferences is something retailers need to take off.”
Over the last few years, Black Friday, which occurs on the Friday after Thanksgiving, has been a great opportunity to pick up good deals on stylish presents for loved ones.
However, Mr Latham noted this might now be too late for many shoppers and Black Friday “may just be losing its sparkle”.
Although consumers are more conscious of their Christmas spending this year and are trying to spread the costs due to the cost-of-living crisis, recent research has shown there is still likely to be more spent this festive period than last year.
VoucherCode’s Shopping for Christmas Report 2023 predicted there will be a 3.3 per cent increase in retail spending this year, estimating that as much as £84.9 billion will be spent in the six weeks leading to December 25th, which is £2.7 billion more than the same period in 2022.
Spending on gifts alone is expected to reach £11.25 billion, with online sales increasing by three per cent from last year as more people look for great deals on the internet where they can compare prices more easily.
Although lots of people seem to be super prepared with their Christmas shopping, there is still plenty of time to buy gifts for your family and friends.
Instead of purchasing lots of gifts that end up costing a lot, consumers might be inclined to give more thought and consideration to each item to cut down on their Christmas spending.
This means more meaningful presents are likely to be bought, as everyone has spent time thinking about what their loved ones would love to receive.
Great present ideas for sisters, friends or your mum, for instance, could include a personalised jewellery box, make-up bag, notebook or clutch. A beautiful backpack would also go down a treat, and looks like a really luxurious gift.
