I know it sounds ridiculous, but people are already starting to talk about Christmas gift shopping (advent calendars are already rolling out too).
One of the biggest issues impacting Christmas gift shopping this year is likely to be the rising cost of living. Stretched wallets are clearly going to be a concern for many this festive season, and a recent CouriersPlease survey of Australians found many are looking for ways to save.
Christmas Gift Buying Trends for 2022
When investigate a group of over 1,000 Australian online shoppers, CouriersPlease has found that some 54 percent of people plan to spend less on Christmas shopping this year.
Just over a quarter of respondents (26%) said they would spend less overall during the holiday season, and a further 26% said they planned to buy fewer Christmas gifts. A tiny fraction of the group (3%) said they planned to skip Christmas altogether this year, 42% said they intended to spend the same on gifts this year.
Although buying fewer gifts is definitely an option (your neighbor’s dog really need to get a pressie?), there’s also a large chunk of people hoping to save on Christmas presents by striking a deal instead.
According to CouriersPlease’s survey, 61 percent of online shoppers are looking to sort their gifts much earlier than in previous years. In fact, one in five shoppers (19%) said they had already received their Christmas gifts for 2022. Yes, in September.
Additionally, 34% of respondents said they plan to go shopping by the end of September (what!). While not everyone is so organised, a good portion of people said they plan to do their Christmas gift shopping in October (32%), with 66 percent of people saying they want their giveaways finalized by the end of next month.
Jessica Ip, Chief Transformation Officer at CouriersPlease, said: “Our research shows that in addition to rising costs, slow and disrupted supply chains impact consumer confidence. A significant proportion of Australians are likely to take a closer look at their discretionary income and tighten their pockets this year, leaving much smaller budgets for Christmas gifts.
“At the other end of the spectrum, Christmas will come early for retailers, with a majority of Australians shopping earlier than last year. Courier services such as ours are also anticipating an influx of early orders linked to Christmas this year and could see our “peak period” – which tends to start in October – accelerated accordingly.
Interestingly, this date is well ahead of the official Black Friday sales, which traditionally fall around November, and is a fairly popular time to grab some Christmas deals. In any case, planning your expenses well in advance can help you limit your spending at the most expensive time of the year, so there’s no harm in being organized.
If you want more budgeting tips for the Christmas season, then check out these tips from a financial advisor.