At this time of year many people are focusing on their summer holidays, however some are thinking about Christmas, with 25% already starting their Christmas shopping, according to research by The Share Centre.
According to the research, those aged 18-34 are the most likely to buy all their Christmas items early, with over a quarter (27%) having already started their festive shopping. Not all shoppers are as well prepared however, with 7% planning on completing their shopping in the final days before Christmas. Overall the most popular time for Christmas shopping is in the final quarter of the year, with 45% opting to hit the shops between October and December.
One of the main reasons why one in four people may start their Christmas shopping early is to spread the cost of Christmas throughout the year. Research from The Share Centre found that people in the UK are planning to spend on average £1,007 over the Christmas period, which covers everything from gifts to food and travel. When it comes to presents, the research suggests that 6% plan to spend over £700 on gifts for loved ones, while the average total cost of presents is £234.
For those not ready to start their Christmas shopping yet, but who are worried about affording the cost of Christmas, it is not too late to start saving for the festive season. Easy access savings accounts are often the most popular way to save up for the festive season, as they usually require only a small opening deposit while also allowing unlimited further additions and withdrawals at any time. Our easy access savings chart provides a comparison of the top rates available. Many of these can be opened and managed online to make saving for Christmas even easier.
Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.