UK households are set to spend 38.5% of their disposable income during the festive season this year, reveals new research from Ferratum Groups’ Christmas Barometer 2015.
The annual research revealed that consumers in the UK are far more generous when it comes to Christmas spending than the other 20 countries surveyed, far exceeding the global average of 23%.
It appears that households worldwide are finding this level of Christmas spend hard to maintain in 2015. One in five of those households surveyed said they will spend less money compared to last year, with two thirds (64.6%) stating they intend to spend a similar amount.
Tony Gundersen, UK country manager for Ferratum Group, comments: “This year’s Christmas Barometer clearly demonstrates the UK’s generosity when it comes to Christmas spending, paying far more against disposable income than other countries in Europe and a majority of the Commonwealth.
“Retailers need to keep this in mind for their sales strategy during the festive season and into 2016.”