Brits to shell out up to £1,000 this Christmas, with local retailers set to benefit
Over 45% of Brits will be spending the same this Christmas, with 33% spending more, despite ongoing cost of living concerns.
That’s according to new research from local gift card champions Town & City Gift Cards, which surveyed over 1,000 consumers, employees and organisations.
28% of people said they’ll be spending £751-£1000 this Christmas, with the need to purchase gifts for friends and family given as the reason for Christmas spend staying the same or increasing.
But finding the perfect gift isn’t always easy with a huge 73% of Brits worrying about finding the perfect gift. The research also revealed a move towards more ‘useful’ gifts that offer choice with 89% planning to buy at least one gift card this Christmas. 92.9% prefer giving a gift card to cash with 77% saying this is because it encourages the recipient to treat themselves.
And, naturally, gift cards are a Christmas present that people want to receive too, with 89% saying they would like to receive a multi-store gift card that can be spent at more than one business and 94% preferring gift cards that can be used in various sectors, such as retail, hospitality and leisure.
Support for local is higher than ever with 98% keen to support local this Christmas and 87% saying supporting local businesses helps to keep them open. 60% say shopping local offers a better experience.
Colin Munro, MD at Miconex, the firm which provides the technology for the Town & City Gift Card programme and said: “The research revealed changing attitudes towards gifting with a greater emphasis on gifts that can be used in a practical way and offer the recipient choice.
“There’s also a really strong awareness of the need to shop local because people realise the impact it has on their community. Local gift cards wrap up choice and support for local in one gift card, reducing the pressure and worry of finding a perfect gift as the recipient can choose exactly what they want from all types and sizes of local businesses.”