This article contains links to products or services from one or more of our advertisers or partners. We may receive a commission when you click or make a purchase using our site. Learn more about how we make money.

Christmas Spending Statistics 2020 

42% of Irish adults will spend less this Christmas

Posted

Fact checked
Picture not described

The coronavirus-induced recession has changed our money habits and not even Christmas is immune. Finder polled 1,207 Irish adults to reveal a whopping 42% plan to spend less this Christmas. Just how much less? Read on to find out.

Spending less on Christmas

Two in five Irish adults plan to spend 26% less on average this Christmas. However, some people are cutting costs more or less than others. If you’re still hoping for an expensive gift or luxurious meal then you might be out of luck if your gift-giver or host is one of the 5.63% who plans to reduce their total spend by over 50%. The good news is that 10.27% only plan to reduce costs by 5%, so Christmas might not look so different after all.

How much Irish adults plan to reduce their Christmas spend by

Will you spend less on Christmas?% of population
Yes, 5% less10.27%
Yes, 10% less6.13%
Yes, 20% less7.79%
Yes, 30% less5.80%
Yes, 50% less6.55%
Yes, More than 50% less5.63%
None of the above57.83%

Who’s spending less?

Those aged 55 to 64 are most likely to say they’re cutting costs this Christmas (47%), followed by those 45 to 54 (45%) and over 65s (44%). On the other end of the spectrum, 18 to 24-year-olds are the least likely to be cutting costs (36%), followed closely by those 35 to 44 years (40%) and 25 to 34-year-olds (42%). More women say they’re reducing their Christmas spend than men; 45% compared to 41%, a difference of four percentage points.

Impact on retailers

Ireland has the sixth-highest percentage of people planning to cut costs of the 10 countries included in the study, one percentage point above its neighbours in the UK. Those in South Africa are most likely to reduce Christmas spend (56%), followed by the Philippines (52%), with Hong Kong and India tied in third (47%). Meanwhile, Australians are the least likely to spend less this Christmas (37%), followed by New Zealand (39%) and the United States (40%).

RankingCountryPercentage cutting Christmas costs
1South Africa56%
2The Philippines52%
3Hong Kong47%
3India47%
5Canada43%
6Ireland42%
7United Kingdom41%
8United States40%
9New Zealand39%
10Australia37%

Image: Getty

More guides on Finder

  • Compare online current accounts

    Instant spending notifications, fast money transfers and budgeting tools are just some of the benefits to having an online current account in Ireland.

  • Black Friday statistics 2020

    As far as the Internet is concerned, the US is no longer the top spot for Black Friday shoppers. Can you guess which country is number one?

  • How to invest in gold in Ireland

    If you’re thinking of investing in gold, our guide will explain how and where to buy gold in Ireland as well as the pros and cons of buying gold.

  • Best bitcoin (BTC) wallets 2020

    Your comprehensive guide to the best bitcoin wallets, how they work and how to securely store your bitcoin.

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy Policy and Terms.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site