World

Why people are Christmas shopping now

New research shows two-thirds of Australians are planning to complete their Christmas gift purchases by the end of next month amid fears of supply chain disruptions.

The survey of more than 1000 online shoppers also found more than half of respondents were feeling rising cost of living pressures and would be spending less on Christmas gifts this year.

According to Australian Bureau of Statistics data, consumers spent more than $65bn across November and December last year, a $3bn increase on 2020.

But parcel delivery company CouriersPlease, which commissioned the new survey, said household Christmas budgets may not go as far this year due to skyrocketing inflation and interest rates, which are driving manufacturers and retailers to boost prices.

Camera IconMany people are planning on purchasing gifts early. Supplied Credit: Supplied

Results from the survey showed 54 per cent of shoppers would be spending less on Christmas gifts, compared to just three per cent who said they would be spending more.

Three per cent said they would be boycotting Christmas altogether, 42 per cent said they would be spending the same as last year and 26 per cent said they would be giving fewer gifts.

Overall, 61 per cent of respondents said they would be shopping earlier this year than usual.

One in five shoppers have already purchased their Christmas gifts, while 34 per cent will finish their purchases by the end of this month.

A further 32 per cent are planning on doing their Christmas shopping in October, while 66 per cent overall said they will finish their Christmas shopping by the end of next month.

But 29 per cent feel comfortable with leaving their shopping to just a month before Christmas, while six per cent intend to purchase their gifts in December.

The decision to hold off coincides with the Black Friday and Cyber Monday sales in November.

Many people will complete their shopping by the end of October. Picture: Supplied
Camera IconMany people will complete their shopping by the end of October. Supplied Credit: Supplied

“Our research shows that in addition to rising costs, slow and disrupted supply chains are spilling over into consumer confidence,” CouriersPlease chief transformation officer Jessica Ip said.

“A sizeable proportion of Aussies are likely to look more closely at their discretionary income and tighten their pockets this year, leaving much smaller budgets for Christmas gift giving.

“At the other end of the spectrum, Christmas will be coming early for retailers, with a majority of Aussies shopping earlier than they did last year.

“Courier services such as ours are also anticipating an influx of early Christmas-related orders this year and may see our peak period, which tends to start in October, fast-tracked as a result.”

File source

Tags
Show More

Related Articles

Back to top button
Close