Latest PayPal survey reveals most shoppers will be curbing the Christmas spend this year

It’s been another year in the grips of a high cost of living crisis and with Christmas just weeks away, recent survey results show that three quarters of shoppers will be closely watching their budgets as silly season gets under way.

1000 Aussie shoppers between the ages of 18 and 75 participated in PayPal’s 2023 Holiday Survey with results showing that the percentage of respondents looking to spend less had risen to 75 per cent this year compared to 40 per cent last year.

Shoppers plan to make savings in the following areas:

• 39 per cent plan to spend less on gifts
• 39 per cent will spend less on decorations and lights
• 35 per cent will cut back on drinks and alcohol during the holidays
• 34 per cent plan to stay local to avoid high travel and fuel costs

The survey also revealed the top five stressors affecting shoppers as the festive season approaches.

The largest issue for Australians this year is the increased cost of groceries with 63 per cent of participants saying it was their biggest concern.

52 per cent of Aussies said high fuel costs and 51 per cent of shoppers said energy costs and utility bills were weighing them down.

20 per cent of shoppers are concerned about their financial position while 44 per cent are increasingly concerned about how much Christmas actually costs.

Interestingly, the survey revealed that Australians are being strategic, using online shopping during sales periods to ensure they don’t blow the budget unnecessarily.

• 38 per cent plan to take advantage of the upcoming sales events.
• 81 per cent will buy gifts online.
• 62 per cent will buy at least half their gifts on line.

The survey also reports that more Australian shoppers are going the online route because it is a faster and easier experience with 47 per cent of people saying the worst thing about Christmas is the over crowded stores in the weeks before the 25 December.

Another interesting statistic was that a third of Aussies said they enjoy the festive season but are admittedly relieved when it’s over. PayPal’s reports also uncovers the top tactics people use to survive the holiday madness and make sure they don’t need a holiday after their holiday:

• 35 per cent create a budget and stick with it.
• 29 per cent ensure they don’t over indulge on the food and drinks.
• 27 per cent ensure they sleep properly.
• 27 per cent a Christmas to-do list helps them stay on top of things.

PayPal’s research showed what they most wanted Santa to leave under the tree:

• 52 per cent wished to receive a gift card
• 33 per cent asked for food and beverage hampers given high grocery costs
• 31 per cent were keen on experiences such as spa treatments, sky diving, dining, etc.

And finally, at 51 per cent, the majority of shoppers said they did not want an self help books gifted this Christmas followed closely by cleaning products, a new pet and anything related to dieting.