Around 30% of consumers in Austria plan to spend less on Christmas gifts this year, as high prices in stores continue to impact shopping habits, according to a survey by consulting firm Deloitte.
The survey, which polled 500 people, found that 60% intend to spend the same amount on gifts as last year. A third have already completed their Christmas shopping in November, another third will shop in the first half of December, and 8% will leave their gift-buying until the last minute, between 16 and 24 December.
Most shoppers plan to budget between €100 and €499 for Christmas gifts. As in previous years, popular presents include vouchers, toys and shared experiences.
“Christmas in crisis mode – people here have become accustomed to it by now. Yet, despite gradually decreasing inflation, it is still the high prices in stores that are dampening the festive excitement for a third of those surveyed,” said Harald Breit, CEO of Deloitte Austria.
Black Friday, which falls on 29 November this year, remains particularly popular with younger shoppers, according to Deloitte. However, consumer protection studies suggest that discounts may not be as significant as expected.
Around one in four people intend to reduce their spending this holiday season, with 65% anticipating similar costs to 2023. The majority of respondents will stay at home for Christmas, forgoing holidays abroad. The main reasons given were rising prices, personal financial situations, and higher costs, especially in winter tourism.
Deloitte also said that the desire to give to charity is being impacted by these saving intentions, with 56% of those surveyed planning to make no donations this year.
