Australians are opening their wallets again for Christmas shopping and festive gifts. New research by Pureprofile Limited (ASX: PPL) shows customers are willing to spend an average of $80 more on gifts than in previous years, an increase of 20%.
Martin Filz, CEO of Pureprofile, says: “This is the first time in five years that we’ve seen a loosening of the Australian purse strings. This shift is remarkable and suggests we may be emerging from the long shadow of cost-of-living concerns.
The food and beverages budgets have also gone up drastically, with 33%. Citizens are willing to spend at least $100 more this year.
When it comes to bargains and deals, Aussies will still not miss out. Despite deciding to spend a bit more this Christmas, they are still on the hunt for savings.
That’s why Black Friday and Cyber Monday deals are still important for almost half of Australians.
“Interestingly, despite the prevalence of AI, only 7% of Australians plan to use it for holiday planning this year. It seems that some aspects of Christmas cheer remain untouched by technology,” says Filz.
Australians are feeling festive with their budgets
Research shows the average gift budget is now at $468 (up from $388 in 2023), and food and beverage spending will be around $406 (up from $306 in 2023).
Despite the higher spending intention, Pureprofile’s Christmas Report found that 67% of Australians will still look for ways to save on Christmas expenses this year.
Customers feel more “emotionally positive as inflationary pressure eases,” notes researchers. It’s the highest (60$) it’s been since 2021.
All I want for Christmas is “money and gift cards”
Most people from around the world prefer money and gift cards. But interestingly, the UK is different. There is a strong desire to receive more practical and essential gifts like clothes, shoes, and food this Christmas.
For Australians, here’s a sneak peek into their wish list:
- Gift cards (46%)
- Money (41%)
- Clothes and shoes (33%)
- Food or drinks (30%)
- Skincare and cosmetics (28%)
A large portion of Australians are going to dodge the shopping malls this November and December. 41% of the population will be ordering online and waiting for the parcels to be dropped off at home.
NOW READ: What is Black Friday and Cyber Monday? The ultimate guide for 2024
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About the author
Mia is a multi-award-winning journalist. She has more than 14 years of experience in mainstream media. She's covered many historic moments that happened in Africa and internationally. She has a strong focus on human interest stories, to bring her readers and viewers closer to the topics at hand.
