{"id":473344,"date":"2023-01-03T16:22:02","date_gmt":"2023-01-03T16:22:02","guid":{"rendered":"https:\/\/www.finder.com\/uk\/?p=473344"},"modified":"2024-04-23T07:21:58","modified_gmt":"2024-04-23T06:21:58","slug":"press-release-christmas-spending-in-the-uk-set-to-drop-by-more-than-5-5-billion-in-2022-as-cost-of-living-crisis-bites","status":"publish","type":"post","link":"https:\/\/www.finder.com\/uk\/media\/press-release-christmas-spending-in-the-uk-set-to-drop-by-more-than-5-5-billion-in-2022-as-cost-of-living-crisis-bites","title":{"rendered":"Christmas spending in the UK set to drop by more than \u00a35.5 billion in 2022 as cost of living crisis bites"},"content":{"rendered":"<ul><li>Christmas spending is set to drop to \u00a3430 per person in 2022 from \u00a3548 in 2021<\/li><li>Overall Christmas spending in the UK is expected to fall by \u00a35.5 billion this year<\/li><li>89% of the British public are planning to spend money this Christmas<\/li><\/ul><p><strong>5, December, 2022, LONDON \u2013 <\/strong><\/p><p>New research from personal finance comparison site, <a href=\"https:\/\/www.finder.com\/uk\">finder.com <\/a>has revealed that Brit&#8217;s Christmas spending is set to drop by an average of 22% this year, falling from \u00a3548 per person in 2021 to \u00a3430 in 2022. This is the lowest level of Christmas spending that the UK has seen in the last 3 years. <\/p><p>The study found that 89% of the British public are planning to spend money on Christmas this year, the same as in 2021. Despite this number remaining unchanged, the total spend across the country has fallen significantly from \u00a325.6 billion in 2021 to just over \u00a320 billion in 2022. This stark drop is likely due to the current economic crisis in the UK which has seen the cost of living increase significantly, forcing many to rein in their Christmas spending this year. <\/p><p>Men were found to be the biggest spenders this year, with the average male expected to spend 25% more than females at an average of \u00a3493 compared to \u00a3370.<\/p><p>The silent generation were the least likely to spend money this Christmas, with almost a fifth of this generation (19%) not planning to spend anything on Christmas this year. This was closely followed by generation Z, where 14% don&#8217;t plan on spending money on Christmas in 2022. <\/p><p>When comparing how much different generations are planning to spend this Christmas, the study revealed that generation X will be spending the most, with an average spend of \u00a3520 each. On the other hand, baby boomers are expected to spend the least with an average spend of \u00a3334 each, that&#8217;s \u00a3186 less than gen X.<\/p><p><strong>Which regions of the UK have had to cut back most this Christmas?<\/strong><\/p><p>When exploring the regional differences in Christmas spending this year, the East Midlands were found to be spending the least on Christmas, with an average spend of \u00a3336 per person. <\/p><p>Compared to 2021, London was the region which has reduced their spending most significantly, falling by 55% from an average spend of \u00a31,176 in 2021 to \u00a3534 this year. This was closely followed by the North East and the South East, where residents have reduced their Christmas spending by a total of 30% in both locations. In the North East, resident&#8217;s spending on Christmas went down from \u00a3593 in 2021 to \u00a3415 in 2022, and in the South East this fell from \u00a3531 to \u00a3374.  <\/p><p>75% of the UK&#8217;s 12 regions will be spending less on Christmas this year, and only 3 regions will be spending more than they did in 2021, these were the East of England, West Midlands and Wales. <\/p><p>To see a further breakdown of the research, visit here: <a href=\"https:\/\/www.finder.com\/uk\/shopping-deals#stats\">https:\/\/www.finder.com\/uk\/shopping-deals#stats<\/a> <\/p><p><strong>Commenting on the findings, Liz Edwards, editor-in-chief at <a href=\"https:\/\/finder.com\/uk\">finder.com<\/a> said:<\/strong><\/p><p><em>It&#8217;s clear that UK residents are feeling the squeeze of the cost of living crisis this Christmas, with many having to reduce their budgets significantly, and some choosing to avoid spending altogether. <\/p><p>If you&#8217;re celebrating Christmas this year, and are looking for simple ways to cut back on your spending, here are some tips: <\/p><p><strong>Don&#8217;t hold on to unwanted gifts.<\/strong> A recent <a href=\"https:\/\/www.finder.com\/uk\/stats-facts\/unwanted-gifts\">study<\/a> from finder.com found that over \u00a31.2 billion is wasted every year on unwanted gifts, and 23% of Brits keep the presents they don&#8217;t want. Try to be upfront if you don&#8217;t like something so that you can return it for something you do want. If that&#8217;s not an option, there&#8217;s no shame in re-gifting the item to someone who would like it. Re-gifting often gets a bad rep, but it&#8217;s a great way to cut down on waste and save yourself some money at the same time. <\/p><p><strong>Set alerts to tell you about price drops.<\/strong> Price-tracking sites like PriceRunner and PriceSpy allow you to monitor and compare the price of items across a range of stores, and will alert you as soon as the prices drop. If you&#8217;re planning to make any big purchases this Christmas, using these sites is a great way to ensure you&#8217;re getting the best deal possible.<\/p><p><strong>Combine your online orders to qualify for further discounts.<\/strong> Most retailers will offer free delivery or discounts if you spend over a certain amount, so try to plan your purchases ahead of time and buy everything you need at once. This should help you qualify for these discounts wherever possible, allowing you to take advantage of some extra savings.<\/em><\/p><p><strong>Methodology:<\/strong><\/p><p>Finder commissioned Censuswide on 23 November 2022 to carry out a nationally representative survey of adults aged 18+. A total of 2,000 people were questioned throughout Great Britain, with representative quotas for gender, age and region.<\/p>","protected":false},"excerpt":{"rendered":"<p>This latest research explores how much the UK is set to spend on Christmas in 2022, and how much Brit&#8217;s spend on unwanted gifts. <\/p>\n","protected":false},"author":1292,"featured_media":473345,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[3788],"tags":[],"asset_tag":[],"class_list":["post-473344","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-media"],"apple_news_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.9 (Yoast SEO v24.9) - 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