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Cost Of Living Crisis Affecting Christmas Spending Budgets

72% of consumers have revealed that they have reconsidered their Christmas budget this year due to ongoing concerns over the Cost-of-Living crisis, according to new research by leading self storage provider, Ready Steady Store.

  

The research, which questioned consumers on their plans for the festive period, also revealed that 43% are planning to buy for less people this Christmas, with nearly one third [29%] confirming they have agreed a spend cap with friends and family to keep costs under control.

  

In addition, one fifth of consumers advised they have limited to present exchange to just younger members of the family so that children still receive gifts.

  

Other key take outs from the research include:

  • 43% of people are even concerned about giving money this Christmas, with 20% worried about the cost of Christmas in general.

  • 22% of consumers have confirmed they regularly ask for money instead of gifts as they deem unnecessary presents wasteful and a further 19% of consumers advised they opt for money instead of a gift as the simply don’t have the space to house more items.

  • This is despite a quarter [25%] of consumers having a pre and post-Christmas declutter, with 21% confirming they donate or throw out unwanted goods pre-Christmas to create more space.

  • Nearly half [48%] are planning on donating second hand items to those in need this Christmas, particularly toys and clothes.

Mehran Charania, Director of Ready Steady Store, confirmed: “Christmas can be a challenging time for many individuals and families, with the majority clearly feeling the pinch this year amidst the current cost of living crisis."

"However, it’s clear that despite this concern, half of consumers are still planning to donate second hand items to those in need, while also creating more space in their homes as part of their pre or post-Christmas declutter. The latter is something we at Ready Steady Store pride ourselves in helping customers with on a regular basis as both families and individuals opt to create more space without having to throw away much loved or sentimental items.”

Established in 2005, Ready Steady Store is a fast-growing self storage provider with cost effective storage units located in the Midlands, and South, North and East of England.


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Dec 15, 2023
2 min read

72% of consumers have revealed that they have reconsidered their Christmas budget this year due to ongoing concerns over the Cost-of-Living crisis, according to new research by leading self storage provider, Ready Steady Store.

  

The research, which questioned consumers on their plans for the festive period, also revealed that 43% are planning to buy for less people this Christmas, with nearly one third [29%] confirming they have agreed a spend cap with friends and family to keep costs under control.

  

In addition, one fifth of consumers advised they have limited to present exchange to just younger members of the family so that children still receive gifts.

  

Other key take outs from the research include:

  • 43% of people are even concerned about giving money this Christmas, with 20% worried about the cost of Christmas in general.

  • 22% of consumers have confirmed they regularly ask for money instead of gifts as they deem unnecessary presents wasteful and a further 19% of consumers advised they opt for money instead of a gift as the simply don’t have the space to house more items.

  • This is despite a quarter [25%] of consumers having a pre and post-Christmas declutter, with 21% confirming they donate or throw out unwanted goods pre-Christmas to create more space.

  • Nearly half [48%] are planning on donating second hand items to those in need this Christmas, particularly toys and clothes.

Mehran Charania, Director of Ready Steady Store, confirmed: “Christmas can be a challenging time for many individuals and families, with the majority clearly feeling the pinch this year amidst the current cost of living crisis."

"However, it’s clear that despite this concern, half of consumers are still planning to donate second hand items to those in need, while also creating more space in their homes as part of their pre or post-Christmas declutter. The latter is something we at Ready Steady Store pride ourselves in helping customers with on a regular basis as both families and individuals opt to create more space without having to throw away much loved or sentimental items.”

Established in 2005, Ready Steady Store is a fast-growing self storage provider with cost effective storage units located in the Midlands, and South, North and East of England.


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