CCPC Christmas spending & financing 2021 research
The CCPC commissioned Ipsos MRBI to conduct research to measure consumer behaviours on spending and financing during the Christmas period 2021. Research was carried out across a nationally representative sample of 1,044 interviews between 1-14 November 2021.
Summary findings include:
- Expected spend on Christmas
- 6% less than €100.
- 31% between €100 and €499.
- 29% between €500 and €999.
- 19% between €1,000 and €1,999.
- 11% €2,000+.
- Spending is significantly higher among 35-54s, with 43% planning to spend at least €1,000 & a further 17% of this age group expecting to spend at least €2,000.
- Having children under 18 is a key factor in Christmas spending. Those with children living in their household planning to spend an average of almost 80% more (€1,397) than those without children (€787).
- Expected spend 2021 compared to 2020
- 57% said they would spend about the same as they did over Christmas 2020.
- 20% intending to spend less than they did last year.
- 22% said they plan to spend more this Christmas.
- Financing Christmas
- 65% of respondents said they will use their savings to cover Christmas costs.
- 1 in 3 (34%) plan to use some form of borrowing (incl. credit cards, a loan from a bank or credit union, store finance, or a loan from a money lender).
- Most popular form of credit this Christmas
- Credit cards (29%).
- Store finance options (4%) such as hire purchase or ‘Buy Now Pay Later’ credit arrangements.
- 4% of respondents plan to sell investments to cover their Christmas costs.
- 3% intend to avail of a traditional loan from a bank or credit union.
Attachments:
CCPC Christmas Spending and Financing Research 2021
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