How much do we spend in Christmas

Christmas is upon us and the idea of getting the perfect gift can be daunting especially for your significant other. Couples tend to go overboard to make sure their partner has the best gift this holiday, whether its jewellery to perfume or cologne to watches but, trends suggest that men spend more on gifts then women.

On average men spend £67 more than their partners during the christmas season! They will be spending an estimated £232 on festive gifts this year, compared to £165 by women, one reason being men spend more on jewellery and perfumes where as women spend it on clothes.

The bank MBNA studied on 2,000 couples in the UK who are planning on using their credit cards over their debit cards, couples under 35 are more unaware of added consumer protection offered by credit cards; in 2015 an estimate £500 million where spent on credit cards.

10613761844_92beff37b1_kRichard Whatmough, Director of Marketing and Digital at MBNA says “Based on last year’s spending figures and the findings of this new research, we expect an enormous amount of money will be going through the nation’s shops every day this December”.  

I went down to London Southbank university to interview students on what they spend for this Christmas. “I like to spend on gifts that make the people happy, so I decided to buy watches, clothes and a pair of cheeky socks” said Rhea. However Mike says ” I’m traditional, so I like to spend my money on things people need like clothes”. 

More students talk about their spending habits “I like to spend on clothes and events because why not go and see something amazing with your partner” said Lily.

Real business.com reports on the sales and marketing of the Christmas season suggests sites like Vouchercodes.co.uk the parent of RetailMeNot and the Centre for Retail Research tracked British Christmas spending trends from a wider study of 450 large retailers in nine countries and 3,000 consumers.

According to the findings, smartphones and tablets will account for 42.3 per cent of UK Christmas spending where online is concerned, to generate £8.87bn for UK retailers. As a result, Britain will lead Europe for mobile shopping over Christmas.

Spending habits during Christmas increase as couples try to get as many deals and discounts before the 25th.

Online shopping has made huge profits as many use it for gifts because its a easy way to get them. Studies forecast that online shoppers will be approximately spending 805 million on online goodies a 10% increase compared to last year figures.

However some shoppers take it to the very last minute by shopping on Christmas day. Justin Opie, managing director at IMRG, said: “It might not seem an obvious fixture in the retail calendar, but Christmas Day has actually become a fairly significant online shopping day in the UK.”

Christmas can be very hectic for spenders, couples want to beat the troubles of shopping and the delays of online shopping. Its important to keep in mind how much your spending as y0u don’t want to be left penniless this winter.