British consumers to spend £1bn on unwanted gifts this Christmas

Brits will spend almost £1 billion on unwanted items this Christmas as 71 per cent of people admit to receiving a gift they’ll never use.

New research from VoucherCodes surveyed 2000 consumers across the country, and found that a whopping £962 million is expected to be spent on gifts the recipient doesn’t want.

Some 33 per cent of those surveyed said they are unable to return a present because of lost receipts, and 26 per cent said they had returned a present without the person who bought it knowing.

VoucherCodes’ results found partners are believed to be the hardest people the shop for, with the average person spending £112.65 on their partner’s gifts. 

Meanwhile, Boxing Day remains a key shopping day for younger generations, with 47 per cent of 16-34 year olds planning to go shopping on December 26, spending an average of £94.90 per person.

“We’re seeing Brits are extremely generous with both their time and resources when it comes to presents for loved ones at Christmas,” VoucherCodes lifestyle editor Anita Naik said.

“The research has highlighted we’re overspending by purchasing unnecessary presents that will end up back in shops come January or, even worse, languishing at the bottom of a drawer never to be used,” she added.

Click here to sign up to Retail Gazette‘s free daily email newsletter


Please enter your comment!
Please enter your name here