Shoppers are feeling the pinch this festive season, with over three in four (77%) expecting Christmas costs to be higher this year due to the cost-of-living crisis, with a further 24% cutting back on spending on gifts entirely this Christmas, according to new research.
The new research by the UK’s largest children’s charity, Barnardo’s, found that almost a quarter (22%) of shoppers won’t be buying their partner a present this Christmas, as purse strings are tightened. Over half of shoppers (53%) surveyed are finding it harder to save money for their Christmas shopping this year.
With shoppers navigating the financial crisis in the lead up to the festive period, a further 30% will not be buying typical foods and drinks that they usually would for Christmas, and one quarter (24%) won’t be buying any Christmas decorations.
