Mindshare UK: prepare for the most frugal Christmas in a generation
News in brief
Four in 10 Brits are worried about affording Christmas this year according to a new study.
Mindshare UK’s Reality Check report asked more than a thousand UK adults how they were feeling about Christmas, revealing the number of people feeling “very negative” about the festive period was almost five times higher than the same time last year at 14% of those surveyed. Meanwhile, those feeling “positive” about Christmas was down by a quarter to 25%.
The 35-54 year-old age group were the most likely to be concerned, as more than half of those surveyed in this demographic were worried about covering the costs of Christmas this year.
The report warned brands should be prepared for “the most frugal Christmas in living memory” as the cost-of-living crisis puts pressure on people’s disposable income.
More than three-quarters (78%) said they would prioritise saving over “splurging”, and nearly 80% anticipated staying in rather than going out.
However, 59% of those surveyed said they wanted to make sure their kids did not miss out, while 56% expected they would rather spend on loved ones than themselves.
