Single-parent families, in particular, are planning for a more cost-effective Christmas, but everyone is keeping a closer eye on what they spend over the holiday season, a new consumer survey shows.
The seasonal TV adverts are in full swing, urging us to buy all sorts of things for our loved ones, and the stores are alive with the sights and sounds of Christmas.
But, consumers are being more careful with their money in 2024, an annual study for consumer credit agency Cofidis has found.
The average individual festive budget in France this year is expected to be €497, down from €549 last Christmas and the lowest since 2019 - that covers buying presents for loved-ones, entertaining and the traditional Christmas meal.
Unsurprisingly, this figure hides wide generational variations. Those aged between 25 and 34 are planning for Christmas on a smaller budget, on average €323, while those aged 64 and over plan to spend a much heftier €718.
On average, each French adult plans to spend a total of €323 gifts, with the average number of gifts standing at seven (working out to €46 per gift). However the average allocated gift budget per child is €142.40 - up 10 percent year on last year.
The cost of the big celebratory meal is set to be €132 on average - €12 higher than in 2023, mostly due to inflation on certain food products. Other costs, such as festive decorations (€27), party clothes (€21) and transport (€17) are much the same as in 2023.
They survey recorded that 33 percent of French people “are worried about not being able to give presents or not being able to do so much”, and fractionally under half (49 percent) “will do without other purchases to treat their children”.
Nearly one in five (18 percent) of the French are turning to “alternative channels”, such as clearance stores in order to buy Christmas gifts.
Nearly a third (29 percent) prefer useful gifts, such as school supplies that would have been purchased in any case. And 37 percent intend to make their purchases by taking advantage of promotions offered by major chains.
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