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Last minute shopping will cost you
Shoppers beware: buying gifts late at Christmas could bust the holiday budget by nearly $250
Shopping late and "self-gifting" are the main budget busting culprits for nearly three quarters (72%) of Australians who exceed their annual Christmas shopping budget by an average of $248, according to new research released recently from eBay.com.au.
The average Christmas spending budget this year is down from last year ($662 compared with $681.47). Getting shopping done early and cutting out hidden expenses is the key to sticking to your budget - particularly with 90 per cent of Aussie shoppers not including incidental expenses such as petrol, parking, lunch or snacks in their Christmas present spending budget.
Self-gifting or purchasing a gift for oneself on impulse is another Christmas budget buster. More than half of the respondents (57%) are confessed self-gifters; 18-24 year olds (67%) and singles (65%) are the most likely to pick up items for themselves while Christmas shopping.
The nationwide survey also found that nearly all (96%) Aussies find Christmas shopping stressful. The most common stresses associated with Christmas shopping are crowds (63%), difficulty parking (53%), the long queues (52%) and worry over finding a thoughtful present (54%).
83% of respondents wish they had done more of their shopping earlier and 68% believe they will get better value if they get their Christmas shopping done early. However, many don't follow their own advice, with more than one third (35%) saving their Christmas shopping for the last few days before Christmas.
eBay spokesperson Sian Gipslis says with nearly three quarters (72%) of Australians admitting to going over their Christmas spending budget, and a whopping 75 per cent admitting that the last few days before Christmas is the most difficult time to shop for Christmas presents, shopping online for gifts earlier in the season is the best way to nab bargains and avoid blowing your Christmas spending budget.
More and more savvy Aussies are opting out of the shopping crowds this Christmas, with nearly half (49%) of respondents claiming they will buy presents online this year. Better value, avoiding crowds and queues, and taking advantage of better range are the main reasons that drive people to shop online.
Justine Davies, financial planner, author and mother of three, says that by adopting a few key strategies Australians can save money and get back to the true meaning of Christmas.
"For a lot of people the holidays can be stress-inducing, but Christmas shouldn't be a stressful time - it's about spending quality time with loved ones," says Davies.
"A common holiday stress point is shopping for Christmas presents, but to avoid the anxiety of the holidays, the trick is to get all your shopping done early. Sites like eBay are great, not only because you can nab some fantastic bargains, but you can also save time and money by shopping in the comfort of your own home. If you get started in November, by December you'll have ticked everyone off your list, your gifts will arrive in plenty of time and you can sit back and enjoy the holidays!" says Davies.
eBay's research also revealed the most common Aussie Christmas shopper personality types, including:
Last Minute Larry: Larry (35% of shoppers) does Christmas shopping in the last few days and wishes he had done it earlier; a higher proportion of men (39%) than women (32%) are 'Larrys';
- Supermum: (15% of shoppers) is well organised and gets all her Christmas shopping done by mid December; women are twice as likely as men to be 'Supermums' (20% of women compared to just 10% of men);
- Early Bird: (24% of shoppers) always buys early in order to avoid the Christmas rush (13%) and to get the best bargains (11%);
- Thoughtful Ted: (11% of shoppers) likes to spend time and effort throughout the year getting the best Christmas presents; is likely to be older and married (16% of those aged 50-64 years and 13% who are married are Thoughtful Teds);
- Santa's Elf: (5% of shoppers) likes the hustle and bustle of offline Christmas shopping; twice as likely to be young (11% of 18-24 years olds are elves) compared to older groups (5%); and
- Penny Pinching Pixie: (7% of shoppers) doesn't usually buy Christmas presents; tends to be younger (higher than average at 11% of 18-24 year olds).
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