Less is more for Christmas shoppers this year
Less is more for Christmas shoppers this year, according to a poll of 1,000 shoppers in the 10th annual National Consumer Sentiment survey by Mortgage Choice.
This year’s survey found 40% of respondents planned to spend less during this festive season – not exactly what retailers would want to hear.
However, there is an upside: the figure is less than last year’s 52% of respondents planning to spend less, and 2011’s 41% of respondents.
Australia-wide, Victorians are less likely to change their spending habits for this year’s festive season, with 61% saying they would "spend the same", according to the broker’s spokesperson Jessica Darnborough. "This reinforces the idea that most people are comfortable with their finances," she said.
This figure is slightly higher than the 56% in NSW and South Australia, 55% in Western Australia and 49% in Queensland.
"People today are a lot savvier with their money. They don’t want to outspend their means and this ensures they feel comfortable all year round."
Another insight came from the responses to the question: ‘What would you most likeIy put a $2,000 windfall towards? One-in-three respondents said their ‘savings’.
"This shows how conscientious people are with their savings and finances these days," Darnborough said.