Christmas shopping

40% of consumers will overspend

Claire McGovern

Reporter:

Claire McGovern

40% of consumers will overspend

New research commissioned by Ireland’s leading gift card company One4all shows that close to 40% of Irish consumers expect to spend more than they can afford this Christmas. Under 35s are the group most likely to go over their Christmas budget, with 45% of respondents in this age group anticipating an overspend. This correlates with research undertaken last year by One4all, which showed that 54% of us do not save for the Christmas period.

The survey was undertaken nationally by RedC in November, with 1,000 respondents overall.

Overspending is not the only thing getting Irish workers down about the holiday season, according to the nationally representative survey. 40% of respondents stated that they do not get enough time off at Christmas. Again, under 35s are the most affected by this lack of time off – more than half (51%) in this age group complained about their short Christmas holidays. However, only one third (33%) of Irish workers have used up all of their holiday entitlements for this year.

With Christmas traditionally being a ‘stay at home’ holiday, it is surprising to learn that 30% of respondents would rather spend Christmas abroad than here in Ireland. This rises to 37% in under 35s, and drops to 25% in over 55s, who would be more likely to want a traditional Christmas.

One4all also asked respondents who they think should be awarded a Christmas bonus this year. Our president Michael D. Higgins won out, with 39% thinking he deserved a bonus, followed closely by Robbie Brady at 33%. Only 20% of Irish adults reckon their boss deserves a Christmas bonus. Interestingly, women are more likely than men to feel their boss should get a bonus, with over one quarter saying they believe it’s deserved.

21% of adults feel that Donald Trump’s Campaign Manager deserves a Christmas bonus – and this is before the President elect won his election campaign.