// eBay reveals that consumers are placing more emphasis on value and meaningful gifting as inflation soars
// 50% of shoppers have said they plan to take advantage of offers and deals this Black Friday to save money on gifts
A careful and considered Christmas is on the cards this year according to new research from eBay Ads UK which revealed that soaring inflation means shoppers will be prioritising value for money and meaningful gifting.
The research, which surveyed 2,010 UK consumers who celebrate Christmas, found that 32% of consumers are planning to start their Christmas shopping earlier than last year, with 29% of shoppers planning to start before the end of August.
Such appetite to get going comes as no surprise given the news today that UK energy bills are to rise by 80% in October, with almost a third (30%) crediting this early start to the impact of inflation on Christmas shopping.
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Over half (56%) plan to buy thoughtful gifts for friends and family this year as shoppers look to prioritize gifts that add value to their loved ones.
While 30% say they plan to buy functional gifts and 23% will buy essential items for presents, “suggesting a preference for purchasing gifts that are useful at a time when many Britons are struggling to afford everyday items”, the report says.
As people tighten their purse strings, 60% of consumers report that good value for money is the most important factor when it comes to shopping this festive season and with growing concerns regarding the cost of living, it’s also no surprise that 20% say they expect to feel stressed this Christmas, up from 14% last year.
However, hope is still high, as half (52%) of consumers are optimistic that they’ll be able to celebrate Christmas, as usual, this year, and over a quarter (27%) think Christmas will feel exciting and a big occasion to look forward to.
Additionally, there are still plenty of opportunities for brands and retailers during traditional retail moments, as half (50%) of consumers say they plan to take advantage of offers and deals this Black Friday to save money on gifts.
eBay ads UK GM Upasana Gupta said: “Christmas is approaching and although it’s undeniably set to be a tricky time for many consumers and businesses alike, there’s also still plenty of opportunities for brands and sellers across categories – especially those that are prepared to start engaging shoppers early on in the season. Indeed, traditional retail moments such as Black Friday remain important, businesses must be ready to reach people as they start to shop – with some starting as early as August.
“With many Brits more stressed and worried about their finances this Christmas, it’s clear that businesses need to be particularly sensitive to their moods and needs and adapt strategies accordingly. As well as appealing to their desire for good value, this means supporting shoppers in their quest to find the most special, meaningful, or functional products that will help make this Christmas a merry one.”
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