Two in three Australians are looking to spend less this Christmas
About 65 per cent of Australians are expecting to spend less this holiday season, according to a report by global data and insights company Pureprofile.
The report, now in its fifth year, is based on the insights of 4500 panel members from Australia, New Zealand, the UK, the US and Singapore.
Among the studied Australians, 38 per cent are concerned about the extra demand on finances this December.
Gift budgets have decreased for the second year in a row, with 42 per cent planning on buying fewer gifts.
The report also saw an increased focus on groceries and food this year, with 43 per cent choosing to spend less on food and drinks over Christmas, up from 37 per cent in 2022 and 28 per cent in 2021.
More than half of Aussies (56 per cent) say they will spend Christmas Day enjoying a meal with their family at home. About 45 per cent expect their workplace to cut back on celebrations, with almost a quarter (24 per cent) expecting no party at all.
“This marks our fourth consecutive Christmas season characterised by tighter budgets and reduced spending,” said Pureprofile’s CEO, Martin Filz.
“We’re seeing a thriftier Australia that’s placing an emphasis on thoughtful and intentional spending; where the holiday spirit is retained, but celebrations take on a simpler, more meaningful tone.”
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