Shoppers will spend less on Christmas presents in 2017 than two years ago, a survey has found.
According to research into 2,891 UK customers’ Christmas spending habits by insurance deals site Bobatoo, 38% of shoppers plan to spend under £300 on friends and family in 2017. In 2015 only 11% of shoppers sent less than £300 on presents.
Two years ago, a larger proportion of shoppers spent more, with 38% budgeting for between £500 and £700 for gifts, while just 17% plan on doing so in 2017.
Over half of shoppers (64%) also predict they will do most of their Christmas shopping online, a 19% increase since 2015.
A total of 53% of shoppers will begin their Christmas shopping between October and November, 15% less than in 2015, as in 2015, one in ten plan to start before July (10%) and almost a quarter in December (24%)
The most common number of people to buy Christmas presents for is between five and ten, which 42% of customers plan to do this year, while only 7% of people have a gift list exceeding 20 people.
This is a change since 2015, when the greatest proportion of shoppers bought presents for between 11 and 20 people (48%), suggesting customers are cutting costs by buying for fewer friends and family members.