Christmas. Confcommercio: "Total spending on gifts fell by 18%"

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12 December 2020 Uncertainty pushes purchases to the first half of December.

Overall spending on Christmas gifts fell by 18%.

This is what emerges from a survey on Christmas 2020 consumption carried out by Confcommercio-Imprese for Italy.

Due to the uncertainty resulting from the pandemic, the advance purchase of gifts at the end of November, made by 20% of consumers against 26% last year, loses appeal, and the share of those who have increased from 51.3% to 61% he prefers to wait until the first half of December;

among those who will give gifts (74.2% of consumers), foodstuffs (68%) and toys (51.2%), albeit down compared to last year, are confirmed as the most popular type, but to record the greatest growth compared to 2019 are subscriptions to streaming platforms (+ 10.5%) and digital gift vouchers (+ 7.2%);

heavy drop, however, for the purchase of tickets for shows and concerts (-26%) and for beauty treatments (-25%) due to the evident restrictions imposed by the pandemic. 

As for the budget foreseen for gifts, the average per capita expenditure will be € 164 per person, slightly down compared to € 169 in 2019, but the increase in expenses of less than € 300 (from 91.6% to 94.2%) and the reduction of those above 300 euros (-31%), in fact, reduce the value of purchases;

in fact, this year the overall expenditure for Christmas gifts is down by 18%, going from almost 9 billion euros in 2019 to 7.3 in 2020;

in any case, only 17.3% of the thirteenth will be destined for gifts, while the majority (over 67%) will be used for household expenses, savings, taxes and bills;

then there is the other side of the coin, that is a quarter of the population that this year will not buy gifts, especially for the simple reason that, due to the health emergency, the classic exchange under the tree will be practically impossible with relatives and friends.

According to the survey, food products are confirmed as the most common type of gift for 2020: 68% of respondents stated that they will make a gift of this kind;

followed by toys (51.2%), books and ebooks (47.2%), clothing (45%) and personal care products (36%).

Among the products purchased that recorded a sharp decline, due to the restrictions imposed by the pandemic, the tickets for shows and concerts (-25.9%) and beauty treatments and massages at Spas (-25%) stand out;

travel too, with a decrease of almost 5%, is penalized by the current situation;

on the other hand, the increase in "digital" gifts that can be purchased without having to go to physical stores stands out: in particular, subscriptions to streaming platforms (eg Netflix) + 10.5% and gift vouchers to buy online (+ 7.2%).

#consumidiNatale 🎁Uncertainty

pushes purchases to the first half of December.

Overall spending on Christmas gifts falls by 18%

🧸🥨Good toys and food, entertainment and beauty treatments collapse. # ComproSottoCasa

➡️ https://t.co/wFBjkhRK9c pic.twitter.com/HPPUy9bM18

- Confcommercio (@Confcommercio) December 12, 2020

It is significant that the first two types of purchases - food and toys - are firmly in topped the list of gifts in recent years, for Christmas 2020 they recorded a decrease of 5.3% and 3.8% respectively. This year, especially due to the crisis and the uncertainty of many consumers who are waiting to know what will happen in their areas and, therefore, what possibilities of "movement" they will have to celebrate next Christmas, the trend to anticipate the purchase of gifts by taking advantage of the discount campaigns at the end of November (such as Black Friday and Cyber ​​Monday): the share of purchases made between 16 and 30 November is reduced, in fact, from 26% to 20%, while the number of consumers who they prefer the first half of December for the purchase of gifts (60.9% against 51.3% in 2019). Only 15.8% will dedicate themselves to the "hunt" for the gift between 16 and 31 December.

This year a total of 7.3 billion will be spent on gifts, down 18% compared to last year (8.9 billion). With reference to the budget allocated, the number of consumers who will spend less than 300 euros on gifts increases (94.2% were 91.6% in 2019) and the percentage of consumers who will spend over 300 euros is drastically reduced (- 31% the percentage change compared to 2019). Behaviors that, on the whole, decrease the value of purchases. Among those who receive the thirteenth (71.4% of consumers), 27.3% will put it aside in the form of savings, 27.1% will use it for household and family expenses, while 17 , 3% will use it to buy Christmas gifts and 12.9% will pay us taxes and bills.