Because of the sharp rise in prices, many people are saving on Christmas spending, according to a new survey. According to this, 39 percent of consumers want to spend less money on gifts, banquets, restaurant visits and celebrations this year, as determined by the Yougov survey institute on behalf of the online portal Check24. According to the survey, almost a quarter – 23 percent – even want to reduce “significantly”.
YouGov Germany surveyed 2,246 people on behalf of Check24 between November 25 and 28. According to Check24, the results are weighted and representative of the German population aged 18 and over. The main question was: “Are you planning to spend more money on gifts, banquets, dining out, celebrations, etc. this year?”
Not all consumers plan to save
On the other hand, twelve percent want to spend more, three percent even “significantly more”. It is foreseeable that quite a few consumers will overdraw their accounts during the Christmas season: Eight percent said that they finance the expenses for gifts via an overdraft facility. Converted to the adult population in Germany, that would be 5.5 million people.
According to Check24, the proportion of people who overdid their accounts for Christmas was six percentage points higher last year. Consumers acted wiser this year if they avoided the high interest rates for overdraft facilities, said Stefan Eckhardt, head of credit business at Check24. (dpa)