"In crisis mode"

High prices spoil Christmas shopping this year

Almost a third want to spend less on presents this year, while around a quarter want to reduce spending on Christmas celebrations themselves.

(Bild: tiana__lima__ - stock.adobe.com)

The continuing high prices in the stores are putting a damper on Christmas shopping. As there is not enough money left in the purse, 30 percent are planning to spend less money on presents this year.

"Christmas in crisis mode - people in this country are used to that by now. But despite the gradual fall in inflation, it is mainly the still high prices in the stores that are dampening the anticipation of the festive season for a third of those surveyed," said Deloitte Austria boss Harald Breit according to the press release.

Budget between 100 and 499 euros
The budget for Christmas presents is between 100 and 499 euros for most people. As in previous years, gift vouchers, toys and joint activities are particularly popular under the Christmas tree.

(Bild: nicoletaionescu - stock.adobe.com)

Of the 500 respondents, 60 percent plan to spend the same amount of money on presents as last year. A third already do their Christmas shopping in November, while for another third, Christmas shopping takes place in the first half of December. Eight percent only buy presents at the last minute, between December 16 and 24.

Younger consumers rely on Black Friday
According to Deloitte, Black Friday is particularly popular with younger consumers for Christmas shopping. The promotional day, which originated in the USA, falls on November 29 this year. However, studies by consumer advocates show that the discounts are often not as high as expected.

Around one in four would like to save on spending around the Christmas holidays, with 65% expecting costs to be similar to those in 2023. The majority of respondents are foregoing a Christmas vacation abroad and spending the holidays at home. The main reasons given for this were the general rise in prices, the personal financial situation and higher prices, especially in winter tourism.

According to Deloitte, the willingness to donate also suffers from the intention to save: The majority of respondents (56 percent) are therefore not planning to donate anything this year.