Reducing Christmas Presents Could Cut Waste Shows Research Commissioned by the Nottingham Building Society

CHRISTMAS PRESENTS – Christmas puts tremendous pressure on people to spend money they do not have to buy presents, and this can lead people to take out loans they cannot afford.

Key findings include:

1. The finding reveals that reducing amount spent on presents could cut the level of waste.  One in four say they have one or more presents from last Christmas that they have not used yet. 
2. Similarly, 20% of people have given away presents from last year because they did not like or need them. 
3. Some 8% have given away three or more presents from last Christmas.

 

In Summary

• 37% of people plan to spend £2.3 billion less on Xmas presents this year than last Christmas
• Only 6% of people plan to spend more
• Findings reveal extent of ‘wasted’ presents from last year that people have not opened and/or given away 

The report

New research from The Nottingham suggests that 37% of people intend to spend around £2.3 billion less on Christmas presents this year when compared to 2019.  Nearly half (46%) plan to spend the same amount, and only 6% anticipate spending more.

However, reducing the amount spent on presents could cut the level of waste.  One in four say they have one or more presents from last Christmas that they have not used yet.

Similarly, 20% of people have given away presents from last year because they did not like or need them.  Some 8% have given away three or more presents from last Christmas.

Drop in planned spend on Christmas presents this year compared to 2019	Percentage of people interviewed who said they expect to spend this amount less on Christmas presents this year when compared to 2019	Estimated number of people in UK (2)	Estimated total value of reduced expenditure (3)
Up to £50	9.2%	4.8 million	£119.8 million
Between £51 and £100 less	11.5%	6 million	£415.3 million
Between £101 and £150	5.9%	3.1 million	£388 million
Between £151 and £200	4.8%	2.5 million	£434 million
Between £201 and £300	2.2%	1.1 million	£284 million
Between £301 and £400	1.1%	567,000	£198.7 million
Between £401 and £500	0.9%	464,000	£209 million
Over £500	1%	515,000	£257.7 million
Total	36.6%	19 million	£2.3 billion

Image: Will Davis.

Will Davies, Head of Propositions at The Nottingham, commented: “Our research shows that because of the Coronavirus crisis, people will be focusing more on the true meaning of Christmas this year, and there will be less spent on presents. 

However, given that our findings reveal the true extent of how many unwanted presents people receive at Christmas, there will hopefully be fewer of these this festive season.”

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