In the immortal words of Jerry Maguire, ‘Show me the money’. That’s at least according to the latest data from the BRC-Opinium Consumer Sentiment Monitor, which shows that consumers would rather receive money or gift cards than any other gift.
Over a third of consumers (34%) would like to receive money or gift cards this Christmas, followed closely by clothes (28%), chocolate and sweets (27%) and then alcohol and jewellery (both at 19%). When looking at what gifts people were likely to give to others, sweet treats topped the list at (37%), money and gift cards came second at (36%), then clothing (31%), alcohol (24%) and homeware and jewellery (both 22%).
The survey also revealed that one in ten (10%) people would be happy to receive nothing, though only 5% felt this was an appropriate “gift” to others. This sentiment was most keenly felt among Gen X and Boomers, while only 2% of Gen Z felt it appropriate to give or receive nothing.
Three other festive takeaways:
· Gen Z were most likely to want clothing (41%), while all other generations most wanted gift was money or gift cards
· Women were most likely to give sweets and chocolates (45%) while men preferred to give money or gift cards (31%)
· People in London were almost twice as likely to want technology items as the rest of the country (29% vs 15% overall)
Harvir Dhillon, Economist at the BRC, said:
“Every year consumers are faced with more choice than ever before, so it’s little surprise that many people find money and gift cards the most convenient choice for giving and receiving. The popularity of chocolate and other confectionery shows they are likely to go down a treat as a festive gift. But whatever you’re planning on giving this Christmas, we recommend not leaving it to the last minute, or risk being left giving nothing on the big day!”
