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BizReport : Ecommerce : October 22, 2014


Brits have financial concerns in the run up to Christmas

As Autumnal nights draw in across the UK thoughts are already turning to the festive season. In a bid to keep on top of their finances, many Brits have already started their holiday shopping, according to a recent survey from VoucherCodes.co.uk, and retailers can help spread the financial burden by offering early deals and discounts.

by Helen Leggatt

Of the 2,000 Brits surveyed by VoucherCodes.co.uk, a third (33%) have already begun their holiday shopping and almost as many (30%) began fretting about how they would afford the festive season in August.

One in five Brits will load up their credit cards with debt to cover the cost of Christmas, with 19% saying they expect debt incurred during the festive season to be their main cause for financial worry during 2015. While red may be the festive color of Santa's outfit and Rudoph's nose, it's also the state of 25% of Brits' financial statement - 17% say they will rack up credit card debt over the festive period and 8% will use a loan or go overdrawn.

However, there are those who plan for the expenses to be incurred. A quarter look to Christmas saving schemes to spread the cost, 25% have begun to purchase gifts, decorations and food and 10% purchased gifts for loved ones in last year's sales. Half have put aside funds throughout the year for Christmas expenses and 25% have used, or plan to use, coupons and loyalty points to ease the pain.

"While the recession may be easing, it's clear Britons' mind sets have shifted with many planning ahead to ensure they have the Christmas they want without the monster financial hangover traditionally associated with January," says Claire Davenport, Managing Director, VoucherCodes.co.uk.






Image via Shutterstock

Tags: festive season, finance, holiday 2014 trends, survey, UK








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