A poll involving 2,000 adults who partake in the festive jollities has uncovered that close to 50 per cent are set on making this year’s Christmas bash all the more jolly following what many dubbed as a “miserable” 2024.
According to the latest figures, Brits are preparing to splash out an extra £2.2 billion this Christmas on celebratory extras like party food, swanky decorations, and merry quiz games.
More than a third have got plans to up their game when it comes to physical presents, dolling out an average of £479 each.
An average upping of £14 is going towards family excursions, while snacks are seeing an extra £10 and posh add-ons for the Christmas feast are getting a £6 boost.
But not all traditions are feeling the love. It turns out less money is being spent on things like Christmas jumpers, glitzy party gear, and lavish cheese platters.
Virgin Money, the whizzes behind the Autumn Customer Spend Trends report that commissioned this survey, noticed that overall customer spending has gone up from last year.
Over £27 million has been shelled out on lifestyle joys such as eating out and entertainment – clear signs that people are committed to savouring the festive period.
According to Andrew Carter, head of personal banking at Virgin Money: “The results have shown spending is on the rise this Christmas, as people look to add extra magical touches this year.”
“While desire and expenditure for physical gifts is on the increase, respondents also expressed a desire to give and receive more experiential presents too, such as theatre and concert tickets and spa days.”
“Wherever people are spending their money, it seems as though a little extra here and there is being spent to elevate elements of the festivities this year.”
This year, many Brits are focusing on thoughtful, personalised gifts to show loved ones they care. While experiences are also gaining popularity, with many choosing to gift theatre trips, sports tickets, or spa days over traditional presents.
Carter added: “We always want to get more for our money and the research has shown that people want to find the best deals to help their budget go further. And gifts that have more meaning seem to be taking centre stage this Christmas.”