We're spending less this Christmas

Thursday, 14 December 2023 06:30

The cost-of-living crisis is impacting how much we’re going to spend at Christmas.

A survey by the accounting firm EY suggests the average shopper is going to spend nearly 300 francs less than last year – that’s down a fifth.

Analysts point to higher health insurance premiums, potential rise in rents and general inflation is making the outlook for 2024 gloomy.

Money and vouchers remain very popular gifts, with 37% saying they’re opting for those. Toys are second with 36% and then food at 34%.

Online shopping continues to climb, with 41% using the internet – up from 38% last year.

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