British consumers are planning to spend £388 each, on average, on presents over the festive season which, according to a new survey, is significantly more than their counterparts in other European countries, including Switzerland.
The study also revealed that some age groups are willing to spend more than £500 to treat loved ones and will purchase the majority of their Christmas presents online. Among the most popular items when shopping online are CDs and DVDs, books and ebooks, toys and games or food and sweets.
- British consumers will buy the majority of their Christmas presents online this year (52%)
- Consumers aged 30-39 are particularly likely to make most of their festive purchases online (57.4%)
- Despite current economic uncertainty, British consumers are planning to spend more money on Christmas presents those in other European countries such as Germany and Switzerland, one of the richest nations in the world
- 30-39 year olds are the biggest spenders, with £505 going on presents on average. The same age group usually spends £214 on their entire online shopping bill each month, including groceries, games, betting and other online spending, while the average value across all age groups is £169.
Other findings included that men and women in Great Britain are planning to spend roughly the same amount as each other on presents for friends, family and colleagues (£399 and £377 respectively). In other European countries such as Germany and Austria, the gap is much bigger. In Germany, men will spend about 45 per cent more than women (£250 compared to £172). In Austria, the average amount spent on presents will total £320 (men) and £258 (women). In real terms, British men are planning to spend £149 more on Christmas presents than men in Germany, while British women are going to spend more than twice as much as German women (£377 / £172). Even in Switzerland, one of the ten richest countries in the world, men and women will spend less (£366 / £287) on Christmas presents than their British counterparts.
Udo Müller, CEO of paysafecard said, "clearly, Christmas spending habits differ across Europe, with British men and women being the biggest spenders. Consumers across Europe are now purchasing the majority of presents on the internet, putting brick-and-mortar shops under pressure. However, competition online is also tough so offering the widest range of payment options is important to ensure as many consumers as possible can make a purchase, leaving no Christmas shopper put out at the check-out.”
1,000 British men and women aged between 16 to 69 years took part in the pan-European survey which was conducted by Marketagent on behalf of paysafecard, part of Paysafe Group plc.