We all tend to spend a lot over Christmas, but just how much is everyone planning to spend over the festive period this year?
To find out, consumer finance website Bobatoo.co.uk recently commissioned a survey asking 1,000 UK shoppers about their Christmas spending habits.
Bobatoo’s research found that 38% of UK shoppers are planning to spend between £500 and £700 on Christmas presents in 2015, and 46% expect to spend between £200 and £300 on other Christmas-related items like food, drink and decorations.
Just 11% of respondents revealed they spend less than £300 on Christmas presents, and 22% say they spend in excess of £700. The remaining 29% spend between £300 and £500.
Who gets the most spent on them at Christmas?
Naturally, children get treated the most when it comes to Christmas – with 70% of shoppers planning to spend the most on children aged between 5 and 16.
That is in stark contrast to how much will be spent on partners and spouses, with the most popular budget for partners being between £100 - £150. Only 16% plan to spend more than £200 on their significant other.
Sticking to a budget
Bobatoo’s research also found that the vast majority (93%) of UK shoppers set a spending budget when it comes to Christmas shopping, but only 18% actually stick to it.
46% admitted to exceeding their budget slightly every year, and 29% say they overspend ‘by a huge amount’.
A spokesman for Bobatoo.co.uk said:
“It is clear that, despite the recent recession and periods of economic uncertainty, the UK public show no signs of slowing down when it comes to Christmas spending.
“There is a worrying trend showing many UK consumers overspending at Christmas, which can lead people turning to high interest credit loan agreements to cover the shortfall.”
See the full results of Bobatoo’s UK Christmas spending habits survey here: http://www.bobatoo.co.uk/blog/uk-christmas-spending-habits-survey-results/