Money is the most wanted Christmas gift across all age groups, according to research from analytics firm SAS and retail analysts Conlumino.
In the 18-34 age group, money (63.7%) and gift cards (53.2%) were the most wanted gifts, with perfume/aftershave, laptop and iPad‘s also in demand.
It was a similar story with 35-54 year-olds with money and gift cards dominating wish lists.
The report called Christmas 2013: Market Prospects, Trends and Winning Strategies, predicts Christmas spend will increase 2.9 per cent to £18.5bn this year, which is generally in line with December inflation of 2.7 per cent.
Unsurprisingly, spend is being driven by anticipated rises in Christmas gifts, seasonal and partywear and seasonal food and drink.
Festive food is expected to bring in £5.3bn – a rise of 4.2 per cent from last Christmas.
The report says premium players such as Waitrose and Marks and Spencer are set for a typically strong Christmas, while discounters Aldi and Lidl will continue to compete for ABC1 customers by expanding their offers to upmarket Christmas ranges.
The toys and games market is predicted to see a slight decline compared to Christmas 2012 with technology-led presents to see a rise in popularity compared to traditional toys.
Cindy Etsell, retail marketing manager, SAS UK & Ireland says retailers need to be savvy enough to tap into the vast number of consumers who received gift vouchers and who have cash at Christmas.
“(Retailers) need to provide personalised offers through multiple channels such as social media, email and direct mail vouchers. Analytics can shed light on what that cash is likely to be spent on – and show retailers where to develop multi-channel promotions that will capitalise on the extra money available.”