Brits to Spend £2.2 Billion More on Christmas Party Food and Decorations
- £5.64 more spent on decorations per person compared to last year
- Average gift spending reaches £479 per person
- Festive outings, snacks, and luxury dinner items see increased spending
Brits are set to spend over £2.2 billion extra this Christmas on party food, decorations, and festive experiences, according to research commissioned by Virgin Money. Nearly 47% of respondents say they plan to enjoy Christmas more than ever following a difficult 2024, while 30% aim to indulge in luxury and 29% want to treat loved ones to better gifts.
Key Spending Trends:
- Decorations: An extra £5.64 per person
- Family outings: £14 more on average
- Snacks: £10 increase
- Luxury dinner items: £6.40 extra
Shift Toward Meaningful and Experiential Gifts:
The study highlights a growing interest in experiential presents, with 15% prioritising gifts like:
- Spa day vouchers
- Theatre and concert tickets
- Entry to sports events
Additionally, 25% of shoppers focus on personalised or thoughtful gifts, while 27% are adopting strategic spending habits, taking advantage of sales and discounts to stretch their budgets.
However, research also found that this year Brits will be spending less on Christmas jumpers, cheese boards and party outfits.
Andrew Carter, head of personal banking at Virgin Money, commented: “This year, people are adding extra magical touches to their festivities, focusing on meaningful gifts and enjoying finer details to elevate the holiday season.”