Around 20 million Brits are planning to use £1 billion in shopping vouchers as 64-85% plan to spend on ‘treats’ such as champagne and cheese.
The UK-wide research commisioned by John Lewis Finance found that on average, of over 2,000 people, shoppers have £57 in vouchers saved up either through spending on retail rewards cards or gifted to them.
For 86% of housholds, vouchers have been saved specifically for Christmas shopping while 36% will use more vouchers than they did last year.
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However, Waitrose parent company John Lewis’ survey also discovered that 45% of people will be mindful of how much they spend this festive season and 61% have set budgets.
As a result, 38% will be taking advantage of sales and offers through the next few months and 19% began their Christmas shopping earlier to spread the cost.
“With household costs rising, shoppers are wisely looking for ways to ensure they can have a great Christmas and treat themselves and their loved ones, without breaking the bank,” John Lewis Partnership head of credit card, Jason Morrey said.
“Saving up vouchers is a great way to do this. Over the past five years our Partnership Credit Card customers have earned over £250m in vouchers to spend at John Lewis or Waitrose.”
This comes as Waitrose is highlighting money-saving deals with its new ‘ways to spend less’ campaign, encouraging customers to save cash where they can.
The supermarket giant has rolled out offers both in store and online, including its £15 pizza meal deal and newly launched dine in for two meal deal.
