You are here: Home - Credit Cards & Loans -

Last minute shoppers go £594m over budget

0
Written by:
14/12/2007

Research from Egg has found that nearly 4 million Brits leave their gift shopping until the week before Christmas.

This last minute panic buying results in them spending more than they intended to and Christmas Eve shoppers are 4 times more likely to buy a dud present than those who buy in advance.

According to the Egg poll, the last minute shopper spends a staggering 39% more than they budgeted. With the average Christmas gift bill totalling £385, this could mean an extra £150 per late shopper, bringing their bill up to £535.

With 1 in 10 Brits being described as a ‘really late shopper’, it appears that women are as guilty as men. And regionally the streets to avoid in the week before Christmas are in London where 16% of shoppers go for the panic buy closely followed by the North West (14%).

Alison Wright, chief marketing officer at Egg, said: “Each year we get 12 months advance warning that Christmas is coming, but still often resort to last minute panic buying. Consumers need to try to find ways to drive down the overall cost of Christmas – one way seems to be by avoiding those last minute shopping sprees, when lack of choice and panic buying are rife.”

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
British Gas rates set to rise

A trading statement by Centrica, owner of British Gas, shows clear signs of price hikes in the New Year.

Close