Consumers postponing Christmas to prevent debt

Wed, 07 Dec 2011

A high number of consumers in the UK are putting off purchasing Christmas presents until the January sales in a bid to prevent falling into debt, it has been revealed.

New research carried out by uSwitch.com revealed 26 per cent of British shoppers could wake up to no gifts under the tree this year as families and loved ones resort to giving IOUs to save money .

Four in ten (39 per cent) of shoppers claimed they plan to do so because they are struggling to afford expensive items this year, while 26 per cent do not have enough money to purchase presents at all.

Additionally, consumers expressed they were previously displeased after purchasing an item then seeing it at a reduced price just days later when the sales begin.

Ann Robinson, director of consumer policy at uSwitch.com, said: "In the eternal quest for a bargain, savvy consumers are choosing to put the gift buying on hold until they can take advantage of the sales."

This comes after money education charity Credit Action urged consumers to stick to their own personal budget to enable them to enjoy the festive period without fear of an expensive new year.
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