Press release -
FOUR IN TEN WORRY THEY WILL BE UNABLE TO AFFORD CHRISTMAS
A third of parents worry their kids will be upset at not receiving as many gifts as the cost-of-living bites
- A fifth are shopping earlier this year, with 75% doing so for financial reasons
- A quarter worry that late arrival of presents will look like they haven't made an effort
- The number of people feeling anxious and sad about Christmas has increased from one in six last year to nearly one in four
Four in ten consumers are worried they will not be able to afford Christmas this year, with 83% saying the cost of living will impact festivities.
As much as a fifth will start their Christmas shopping earlier this year with three quarters of them doing so for financial reasons. Four in ten of these early shoppers say that things are cheaper if bought early.
A third of parents worry that their children will be upset at not receiving as many gifts, with around one in eight saying they are extremely worried.
The Post Office research of 2,005 UK adults found a quarter say they plan to spend less money on close family and over a third will spend less on extended family and friends – with half saying Christmas will be a smaller occasion this year.
It also emerged that almost one in six plans on making homemade gifts; with the number one reason being to save money (63%). Whilst over half think it’s more thoughtful and over a third do so to be creative.
Four in ten plan to use cash to purchase Christmas gifts this year, and of these, two-thirds will do so to manage budgets and keep track of spending. A quarter plan to gift cash this year.
It comes as the Post Office announced that it handled a record £3.45 billion in cash during August, with branches on track to further this record in October.
As Christmas edges closer, Post Office are encouraging consumers to get ahead and post letters and parcels early.
Kristian Latham, Head of Letters & Parcels at Post Office at the Post Office said: “Our research has shown that the cost of living will be impacting Christmas for many this year as households tighten purse strings. This is set to affect how we shop, with more and more consumers planning on buying gifts earlier for financial reasons.
“Our branches will be open as usual in the run up to Christmas, helping consumers to post early as well. This is a great way to make the most of cheaper posting rates, whilst leaving plenty of time for cards and gifts to arrive before the big day.
Despite half feeling excited, happy or optimistic about Christmas, the number of people feeling anxious and sad about the occasion has increased from just over one in six last year to almost one in four.
The Post Office study went on to find that half of Brits shopping earlier this year are doing so to be more organised, with a third saying they make better decisions when not in a rush.
A fifth of those shopping earlier this year said they are doing so to ensure gifts arrive on time, with a quarter worrying that a late gift would look like they hadn’t made an effort.
Four in ten admitted they enjoy Christmas shopping, with seven in ten planning on doing theirs in one of the sales.
Yet the majority of Christmas shoppers (74%), will be finishing up their Christmas shopping in December with one in three leaving it until just one week before the big day to pick up their final bits.
Struggling to know what gift to buy is the top reason people give for not getting their Christmas shopping done early.
Latham continued: “As Brits gear up for the festive season, it’s important to choose the best service for your precious gifts; the value of the item, speed of delivery needed and any tracking requirements are all important. If in doubt, our expert Postmasters can recommend what’s best for your parcels.
“If you are posting goods or gifts abroad, being aware of what can and can’t be posted and getting customs forms right are vital to ensure parcels are not delayed or returned. Guidelines to filling in customs forms correctly are on our website and of course our Postmasters are always on hand to help.”
For more information this Christmas period, head to the Post Office’s Christmas hub, https://www.postoffice.co.uk/christmas
ENDS
For more information, please contact:
Max Fairhurst
Max.fairhurst@redbrickroad.com
07799 739438
Notes to editors
The research is a national representative study of 2,005 UK adults carried out by the Post Office in September 2022.
About the Post Office
- With over 11,500 branches, Post Office has the biggest retail network in the UK, with more branches than all the banks and building societies combined.
- Post Office is helping anyone who wants cash to get it whichever way is most convenient. Partnership with over 30 banks, building societies and credit unions means that 99% of UK bank customers can access their accounts at their Post Office.
- Cash withdrawals, deposits and balance enquiries can be made securely and conveniently over the counter at any Post Office; and the biggest investment by any organisation or company in the last decade is being made to safeguard 1,400 free-to-use ATMs across the UK.
- Post Office is simplifying its proposition for Postmasters with a focus on its cash and banking; mails and parcels; foreign exchange; and bill paymentsservices.
- Research has found that visits to the Post Office help drive another 400 million visitors to other shops, restaurants and local businesses equating to an estimated £1.1 billion in additional revenue for High Street businesses.
- 99.7% of the population live within three miles of a Post Office; and 4,000 branches are open seven days a week.
