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Christmas Spending Statistics 2020
42% of Irish adults will spend less this Christmas
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% less||10.27%|
|Yes, 10% less||6.13%|
|Yes, 20% less||7.79%|
|Yes, 30% less||5.80%|
|Yes, 50% less||6.55%|
|Yes, More than 50% less||5.63%|
|None of the above||57.83%|
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%).
|Ranking||Country||Percentage cutting Christmas costs|
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