Kiwis more savvy on Christmas Shopping

Kiwis are savvy about Christmas shopping, with more than 60 per cent of people saving throughout the year ahead of the big spend before the holiday. Photo / NZME

MasterCard research showed Kiwis are getting smart with Christmas spending.

• 63 per cent save or buy presents throughout the year to spread costs
• 60 per cent of parents plan to spend less than $150 on children
• 66 per cent would spend $50 to $150 on parents and in-laws

Kiwis are getting more savvy around Christmas shopping with more than sixty per cent saving or buying christmas presents throughout the year to help manage their spending, according to a survey by MasterCard.

Research commissioned by the credit card company from 1,000 consumers showed 32 per cent of Kiwis budgeted throughout the year to fund christmas purchases while a further 31 per cent bought presents over the year to spread the cost.

Peter Chisnall, Country Manager for MasterCard New Zealand said it was good to see New Zealanders taking steps to reduce the impact of the Christmas season on finances.

"The holiday season is a busy time of year where household expenditure tends to rise with Christmas parties, presents and summer holidays, and the more prepared we are financially, the better," Chisnall said.

"The Christmas period should be a time to recharge and celebrate, rather than being caught up with financial stress. This year 24 per cent of people surveyed are planning to spend less this Christmas, up 6 per cent compared to last year."

Overall 64 per cent of those surveyed said they were planning to spend the same amount on Christmas this year as last year, with most planning to spend between $251 to $500 on items such as food, travel, presents and decorations.

The survey also showed New Zealanders felt less financially stressed this year than in previous years, with most people planning to buy up to 10 presents for family and friends.

"The best way to manage additional expenses that come with the festive season is to create a strategy and budget that works for you and stick to it," Chisnall said. "Research results this year are encouraging, as it appears Kiwis are adopting sensible Christmas spending habits as they head into the holiday season."

The survey showed women were the biggest present givers, and were more than twice as likely as men to purchase gifts for 16 or more people, however men were prepared to spend more on their partners with 21 per cent expecting to spend $251-$300. This was compared to 16 per cent of women who planned to spend the same amount.

Kiwi Christmas Spending
• 63 per cent save or buy presents throughout the year to spread costs
• 25 per cent felt financially stressed, compared with 33 per cent last year
• 24 per cent plan to spend less this year
• 20 per cent of parents plan to spend $300 on children
• 60 per cent of parents plan to spend less than $150 on children
• 37 per cent of men would not spend more than $50 on each sibling
• 34 per cent of women would not spend more than $50 on a sibling
• 66 per cent would spend $50 to $150 on parents and in-laws
• 20 per cent would spend $1 to $50 on parents and in-laws