Half of shoppers are looking to save money over Christmas, with one third looking to cut back by over £25 per head as consumers struggle with rising prices amid the cost-of-living crisis.
This data from Kantar also found that as 37% are currently struggling financially and 47% of shoppers are worried about Christmas, retailers and brands will need to work harder to attract customers during the festive season this year.
Looking to be prepared for the big day, 5% of consumers say they have already purchased all of their presents, while those leaving their shopping to the last minute is set to double this year to 7%.
The insights and consulting company said that brands will need to ensure that Christmas advertising campaigns strike an appropriate note with consumers this year as only 18% are looking forward to festive-themed adverts.
“Its been another tough year for many people and brands need to be careful to get the right tone this Christmas,” Kantar head of creative excellence, Lynne Deason said.
“We’ve seen a significant jump in the number of consumers who are worried about money and the emphasis for many will likely be on getting back to the true meaning of the festive season, focusing on togetherness, kindness and generosity.”
Speaking of Christmas brand advertising, Deason added that this should remain in high spirits and shouldn’t “fall into the trap of gloomy, downbeat ‘sadvertising’. People still want to be uplifted, in fact even more so when times are tough.”
She added that leading retailer Tesco’s recent £1 million donation to the Trussell Trust and FareShare is “a good example” of making “a genuine difference to those in need this Christmas”, which “will be appreciated and remembered.”
