Dear Santa, stack the sleigh! Aussies are ready to spend, new report shows
Dear Santa,
Here's a possible surprise for you and the elves ...
Aussie shoppers will spend $80 more this Christmas on average!
I know, amazing isn't it? I thought the high cost of living had everyone down. But festive vibes are upon us my friend.
On average, that's $468 up from $388 spent in 2023.
This comes as many consumers are apparently now more optimistic, with 60% feeling emotionally positive as inflationary pressure eases.
Pureprofile’s chief executive, Martin Filz says this is the first time in five years that we’ve seen a loosening of the Australian purse strings and a noticeable uplift in holiday spirit.
“This shift is remarkable and suggests we may be emerging from the long shadow of cost-of-living concerns. However, a cautious sentiment persists, with shoppers actively seeking savings and bargains.” - Martin Filz, Pureprofile CEO
Top of the wishlist? Shopping deals!
Deloitte’s recent Retail Holiday Report notes that 95% of Aussie consumers are actively seeking the ‘best’ deals they can for Christmas gifts.
To this end, many Australians expect to take advantage of Black Friday and Cyber Monday deals.
Indeed, new Future data shows how much emphasis shoppers are placing on the November sales:
- 21% of consumers plan to spend more than last year this holiday season.
- 50% of consumers plan to spend in the Black Friday sales and Cyber Monday sales.
- $1,482 is to be spent by Aussies on Black Friday and Christmas, on average.
Mozo’s personal finance expert, Rachel Wastell says that with the cost of living still high, Aussies are certainly looking for ways to extend their budgets.
“It’s no wonder more are turning to Black Friday to get a head start on Christmas shopping,” Wastell says. “These sales keep getting bigger, making it the perfect time to score a bargain and ease the holiday spending stress.
“But a word of caution – it’s easy to get caught up in the excitement and overspend, so be sure to stick to your budget and only buy what you actually need.” - Rachel Wastell, Mozo expert
So, what will we be stuffing stockings with? Well, you know the answer.
But Pureprofile also has a list below ...
Top 7 gift categories this Christmas
- Gift cards or vouchers
- Food, confectionary, drinks
- Clothes, shoes
- Skincare, cosmetics, fragrances
- Money
- Toys
- Books
*Data from Pureprofile
Looking for inspiration?
Shopping comparison website Getprice has rounded up some of the top Black Friday Deals in 2024. View
5 festive season savings hacks
- Buying fewer presents
- Cheaper alternatives for food
- Only buying gifts for children
- Secret Santa
- Stashing discounted amounts away
🌟 Of course, we’d also throw in choosing a savings account with a solid interest rate so that you can make the most of any money saved!
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