CCPC Christmas shopping research
The Competition and Consumer Protection Commission (CCPC) commissioned Ipsos MRBI to conduct research into consumer attitudes towards Christmas shopping and spending this year in the midst of inflation and the higher cost of living.
The survey was conducted ahead of Christmas over a two-week period in October 2022.
Summary findings include:
- Research findings show that consumers are expected to spend an average of €1,200 on Christmas shopping this year, a 20% increase on Christmas expenditure in 2021
- Over one third of shoppers will spend an average of at least €1,000, while households with children are due to spend almost €1,600. The 35-44 age group intend to splurge the most over the festive season with an average of just under €1,500
- Price increases were cited by 73% of consumers as the reason for increased spending this year. Making Christmas extra special this year was also a key reason for 42% of shoppers, while 29% cited an increase in income as a reason to spend more. 20% have more savings to put towards Christmas this year compared to last year
- Insights found that those surveyed who plan to borrow to fund Christmas expenses has dropped to 1 in 4, compared to 1 in 3 last year
- The number of consumers who plan to use credit cards to finance Christmas has almost halved, dropping from 29% in 2021 to 15% in 2022. Credit cards remain one of the most expensive forms of credit available to consumers
- Of those surveyed, 39% of consumers with a credit card plan on using it over Christmas, while 21% intend on using a form of overdraft payment
Attachments:
2022.11.22 CCPC Christmas Shopping Research
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