Christmas shoppers are bracing themselves to spend significantly more on gifts this year, with an average increase of over £32 compared to 2023, a new survey suggests. The festive period is set to see consumers part with an average of £377.98, marking a 9 per cent rise from the £345.35 spent last year, according to research by MyVoucherCodes.
Regional spending habits reveal notable differences across the UK. Shoppers in Northern Ireland anticipate the highest outlay, budgeting an average of £452.38 for presents. Conversely, those in the South West of England expect to spend the least, at £324.37. Meanwhile, Scottish consumers are preparing to spend £443.64, and Welsh shoppers anticipate an average expenditure of £366.11.
The research was released ahead of the Black Friday (November 28) shopping bonanza, with many retailers already having started sales.
When asked what they would cut back on to save money this festive season, 36% of people said they would go out less, 34% plan to buy fewer clothes, and 27% will skip a Christmas getaway this year.
Two-fifths (39%) will rely on online shopping for last-minute Christmas gifts, rising to 61% of people aged 18 to 24.
Sarah-Jane Outten, a money saving expert at MyVoucherCodes, said: “With prices up on last year, every saving counts. Using discount codes, shopping early, and being clever with spending can make a big difference without cutting back on the festive cheer.”
She suggested setting a “realistic” budget, teaming up with friends or family members to buy a gift and checking cupboards before heading to the supermarket as ways to keep Christmas spending down.
People could also take some time to research current and previous prices of gifts they want to buy before they hit the shops, to help them weigh up whether a “special offer” is really a bargain.
Some 2,000 people across the UK were surveyed by OnePoll in November for MyVoucherCodes.
