Two thirds of Australians will be spending less on Christmas presents
this year – with the majority choosing to holiday at home rather than go
away, new surveys have shown.“Sixty six per cent of respondents said they’ll be spending less money on Christmas gifts this year,” says Homeloans’ national marketing manager Will Keall, commenting on the nationwide Homeloans’ Christmas Spending Survey.
“The key reasons they have given are the rising cost of living and economic fears. There’s been a resounding response to our survey question about why they’re cutting down on their spending this year: higher petrol, electricity, water, insurances, food costs...
“Other respondents have cited less disposable income, higher utility costs and now the carbon tax, which has affected their spending habits. A couple of people even stated that they are watching their pennies in case of a Euro meltdown.”
The majority of respondents of the survey admitted they use their credit cards to purchase Christmas gifts (62 per cent), with only six per cent having a special Christmas saving account. And 70 per cent put a limit on each Christmas present.
Despite limits being put on gifts, 62 per cent of those with children who believe in Santa, say they do buy presents every year for their children, in addition to gifts from Father Christmas.
“Many people said that the Santa presents would just be small or token gifts this year,” Keall says. “But parents don’t want tough economic times to bring an end to the Santa fantasy!”
Home sweet home
Three quarters of respondents (76 per cent) admit they won’t be going away for the summer holidays, with many saying they just cannot afford it. “Staycations certainly seem to be the choice this year, and some of the respondents said they’ll be working on their homes or doing renovations, so any spare money is going towards this,” Keall says.
It’s a sentiment borne out by the latest Crossman Insights survey, which showed that most Australians are forgoing the traditional summer holiday this year, choosing instead to stay home or close by, and only taking relatively short breaks.
Those living in South Australia and Western Australia are most likely to be staying home (64 per cent), compared with 54 per cent among those living on the Eastern Seabord. Among those who are going away, 54 per cent are only planning a short break of up to seven nights, with 19 per cent away for just three nights or less.
The Newspoll survey also found that of those going away, the preferred accommodation is bunking down with family and friends (42 per cent), while 22 per cent will be staying in a hotel, 17 per cent in an apartment or rented holiday home, 15 per cent will be camping, 14 per cent staying in a resort and 13 per cent in a caravan or holiday park.
Additionally, 42 per cent believe they will be spending less than $1000 on all travel, accommodation, food and spending money for all people in their household travelling with them. Almost two in 10 Australians with children will be spending $500 or less on the entire family getaway.