Christmas is a season of joy, togetherness, and gift-giving. Every year, millions across the UK carefully plan and budget for presents that will delight their loved ones.
A common conversation topic is when people start shopping for Christmas. December? Or much earlier?
The amount people spend on Christmas gifts for loved ones also varies. Just how much do people spend on Christmas? Let’s look into UK Christmas spending habits and the generational differences that shape the holiday shopping landscape.
Christmas spending in the UK starts as early as January
When it comes to Christmas shopping, Brits are nothing if not organised. Results from a recent gift-giving survey conducted by Rex London reflect this as a surprising 23% of shoppers begin their Christmas gift buying as early as January. This early start is often motivated by the desire to take advantage of post-holiday sales, securing bargains on gifts for the following year. Another 20% kick off their shopping in September, with October close behind at 18%.
Interestingly, only 3.6% of shoppers wait until December to buy their first Christmas present. While last-minute shopping can seem stressful, it’s clear that most Brits prefer a more thoughtful and planned approach. Results have also shown that many even spend an entire month deciding on the perfect gift for their partner. This reflects the value placed on meaningful and carefully chosen presents, ensuring the festive season is as special as possible.
UK Christmas spending statistics: How much do people spend on Christmas?
So, how much do people spend on Christmas? Finder researched Christmas shopping and found some interesting UK Christmas spending statistics. They found that Brits are expected to spend an average of £596 on Christmas gifts in 2024, highlighting the financial commitment many make to bring joy to family and friends. Collectively, the UK is projected to spend an astonishing £28.6 billion on Christmas gifts this year.
When we break Christmas spending statistics down by generation, clear trends emerge. Millennials (28-43) are the most generous spenders, averaging £871 each on gifts. Close behind are the Silent Generation (aged 79+), who plan to spend £825 each. Gen Z shoppers (aged 18–27) follow with £605 on average, while Generation X (aged 44–59) and Baby Boomers (aged 60–78) take a more budget-conscious approach, spending £487 and £371, respectively.
These differences reflect varied priorities and financial circumstances. Millennials, for example, may spend more as they balance traditions with the desire to impress or delight their young families. On the other hand, older generations may focus on meaningful but practical gifts within tighter budgets.
What makes the perfect Christmas gift? Insights from UK consumers
With gift-giving, every individual has their own preferences and the variety of desired Christmas gifts reflects this diversity. A recent survey conducted in November asked 1,050 UK consumers what they would be happiest to receive this festive season, revealing insights into the nation’s Christmas spending priorities.
The survey found that 41% of respondents would be delighted to receive clothing, textiles, or shoes as gifts. Other popular choices included money, vouchers, and gift cards, highlighting a preference for flexible and practical presents. Cosmetics, perfume, and body care also ranked highly, with 37% of participants expressing interest, while 30% would welcome books as thoughtful gifts.
Jewellery and watches remain another sought-after category, with 29% of respondents listing these as ideal gifts. Far from mere fashion accessories, timepieces from renowned brands like Rolex and Patek Philippe are increasingly valued as smart investments. Thanks to their exceptional craftsmanship, limited availability, and strong demand, some watches appreciate over time, making them meaningful and lasting gifts for special occasions.
As luxury shoppers start to seek mementos that can be shared across generations, it’s clear to see why the luxury watch industry has remained strong. Research has found that Millennials and Gen X, in particular, are starting to purchase luxury items and gifts that combine significance and longevity.
The Havas Media study found that 1 in 5 ultra-high net worth individuals (UHNWIs) in the UK were ‘Memory Makers’, a new type of shopper that views luxury as the pursuit of meaningful experiences. The research found that 41% of UHNWIs view their primary motivation for buying luxury items as creating unforgettable memories.
How different generations approach Christmas spending
Generational attitudes toward Christmas spending vary significantly, shaped by lifestyle, priorities, and financial habits. Millennials, the top spenders, are more likely to prioritise premium experiences and meaningful gifts. For them, Christmas is an opportunity to invest in joy and connection, both materially and emotionally.
By contrast, Generation X and baby boomers tend to adopt a more frugal approach, reflecting their focus on practical budgeting or financial security. For these groups, the emphasis may be on thoughtful yet cost-effective gifts that align with their more established lifestyles.
Interestingly, the silent generation goes against the trend of older generations being more frugal. Their relatively high spending suggests a strong commitment to maintaining traditions and showing generosity, perhaps as a reflection of their values during the festive season.
For Generation Z, spending habits are more balanced, combining affordability with a desire to embrace trends. Their gift choices often include tech gadgets and innovative experiences, catering to their love of novelty and convenience.
The heart of UK Christmas spending: Traditions & connections
UK Christmas spending reflects much more than just the exchange of presents; it embodies thoughtfulness, tradition, and a desire to bring joy to loved ones. From the early shoppers securing bargains in January to the millennials splurging on premium experiences, every generation approaches Christmas gift-giving in its own unique way.
Looking into how much do people spend on Christmas, on average Brits spend £596 on Christmas gifts, demonstrating the importance placed on the festive season. Whether it’s luxury watches, meaningful experiences, or budget-friendly tokens of appreciation, the act of giving remains at the heart of the holiday spirit.
So, as Christmas approaches, consider how your spending reflects your values and traditions. Whether you’re shopping early or making last-minute decisions, remember that the true joy of the season lies in the connections and memories you create with your loved ones.
Images via unsplash
