It might be the height of summer, but for many involved in branding, advertising and marketing, planning for Christmas 2023 campaigns is already underway.
This year, with the cost of living crisis having now lasted a good 18 months or so you could be forgiven for thinking that consumers are taking a relatively cautious approach to spending on Christmas. Especially in comparison to last year which represented the first Christmas in a couple of years when COVID restrictions were not disrupting preparations and many consumers had a pent-up urge to celebrate in style with friends and family.
However, new monthly GB TGI data reveals that a similar proportion of adults intend to spend more this year on Christmas presents than last year and indeed a similar proportion intend to spend less. Planned spend on Christmas food tells a similar story.
This sustained desire to boost Christmas spending is reinforced by agreement with the statement “I like to splash out at Christmas”, which is at 50% of adults, slightly up on the equivalent this time last year of 46%.
Marketers will be especially keen to target those intending to spend more on presents this Christmas and TGI reveals that they are particularly likely compared to the average adult to be engaged by a number of media, including gaming, social media and sponsorship.
Those planning to spend more on Christmas presents this year are also particularly likely to be in the younger TGI Lifestage groups. This may reflect consumers in the Fledglings (aged 15-34, not married/living as a couple, do not live with son or daughter, live with parents) and Nest Builders (aged 15-34, married/living as a couple, do not live with son/daughter) groups who are expecting to have children soon, have new nieces/nephews, or indeed have friends having children who they may be buying for for the first time. Similarly, Playschool Parents will have young and new children to buy gifts for.