So much for the myth that women are bigger spenders than men at Christmas.
A new survey shows women will start present shopping earlier, take a more planned approach AND spend less than men.
One in two Australians expect to spend the same amount this Christmas as last year and will allocate 60 per cent of their budget on presents.
The RAMS Consumer Spending Vs Savings report says: “Australian consumers plan to spend on average $1,058 each this Christmas with women surprisingly displaying a higher propensity to spend less than men.”
Shopping centres (50 per cent) are the preferred choice for Christmas shoppers despite a growing trend for online buying (21 per cent).
Gift cards and vouchers are on top of Australian’s wish list this Christmas
We’ll spend $1,058 each this Christmas compared $1,075 last year and $1,101 the year before.
Chris Thornton, Head of Marketing at RAMS, says women are adopting a savvier, more frugal approach to Christmas shopping to stretch the family budget further.
“Our research indicated that men are more likely to be last-minute Christmas shoppers with nearly 20 per cent leaving their shopping until the second half of December. In a last minute dash to get their shopping done, it seems men are being forced to pay a premium for items. Also, they have less time to shop around for a bargain.”
People are generally taking a cautious approach to spending this Christmas with one in four planning to spend almost 40 per cent less than last year. On average, this group of shoppers will spend approximately $664 each.
However, one in five revealed that they are willing to loosen the purse strings this year — predicted to spend 60 per cent more ($1,729).
More than a third of those who were surveyed went over budget last Christmas and plan to prevent overspending this year by buying cheaper or fewer gifts, reducing their food budget or cancelling holiday plans.
“Another sign that shoppers are being careful to stay within budget is that we are seeing a decrease in the number of people using credit cards to fund Christmas shopping. However, almost 28 per cent of consumers said they would be willing to dip into their personal savings to fund celebrations.”
The average Australians will spend a maximum of $186 on a single gift, $9 less than last year.
About half of shoppers are willing to pay no more than $100 for a single gift with women more likely to stick to this limit than men.
The top five items on the average Australian’s wish list this Christmas:
- 1. Gift cards/vouchers
- 2. Electronics
- 3. Clothing
- 4. Books
- 5. Cash
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