Gifts remain the biggest expense item: 354 euros, or 27 euros more than in 2021.
Despite inflation, the French want at all costs to keep the magic of Christmas. No question of depriving yourself this year: the budget allocated to expenses related to the end-of-year party is up: 568 euros on average, or 35 euros more than in 2021, according to a CSA Research survey for Cofidis, published Monday.
“This increase in the budget would concern all expenditure items“, notes the study. Gifts remain, by far, the most important item of all, with a planned budget of 354 euros, 27 euros more than last year. Their average number (seven) has remained stable since 2019. Meals come in second place (127 euros, +10 euros compared to 2021). We then find the decoration (27 euros, +2 euros), clothing (23 euros, +2 euros) and transport (23 euros, +2 euros). These observed increases are linked to the price increases anticipated by the French. One in two (53%) say they fear that the economic context will impact the end-of-year celebrations.
Arbitrations carried out by the French
If the average total budget for Christmas 2022 is increasing, Mathieu Escarpit, marketing director of Cofidis, highlights “the dimension of arbitration towards which the French wish to turn, without sacrificing what will make the success of their end-of-year celebrations“. Food is indeed the most protected item (only 5% of French people questioned intend to limit their expenses related to meals). Conversely, consumers will pay more attention to spending on clothing (23%), decorations (19%) and gifts (18%). More than a quarter of respondents (27%) still say they will not seek to cut spending at all, a figure down 6 points from 2021.
Furthermore, it should be noted that the average Christmas budget hides strong disparities depending on the profiles. It varies almost from simple to double according to age (420 euros among 25-34 year olds against 725 euros among those aged 65 and over) and according to socio-professional category (400 euros among people without professional activity against 804 euros among retirees formerly CSP+).
*CSA Research survey for Cofidis, carried out on a sample of 1007 French people, representative of the French population aged 18 and over, administered online from October 25 to 27, 2022. Sample made up according to the quota method.