As we hurtle towards Christmas it has been revealed that Liverpudlians will send an average of £1,828 on the festive season. Liverpool is the fifth highest spending city in the UK behind Glasgow, Cardiff, Sheffield and Leeds.
According to new research from American Express, Brits are set to spend on average £1,551 on everything from parties and pantomimes to presents – £51 more than last year. This equates to a bumper £76 billion being spent across the nation to celebrate Christmas.
Those enjoying all the sparkling season has to offer are spending the most on getaways, such as visits to Lapland or Christmas markets outside the UK (£457) – a £71 increase from last year. The next top Christmas cost is on gifts for loved ones; with an average spend of £341, up £25 since last year.
Some Brits are particularly savvy Santas when it comes to their seasonal shopping, with a quarter (25%) using loyalty points, rewards or cashback, and 44% saving up rewards points throughout the year to make the most of their shopping at Christmas. Mrs Claus might be better at bagging bargains this year, with 51% of women saving up hard-earned points versus 37% of male shoppers. Brits estimate they save a very merry £60 on Christmas shopping by saving their points or rewards for the festive season.
While 27% are of Brits are eager elves, shopping at early sales and taking advantage of promotions to keep costs down, one quarter (25%) say they haven’t yet thought about how they will spend smartly this Christmas.
Jenny Cheung, Director at American Express, commented: “Our research shows Santa’s sack will be brimming with presents this year, but it’s great to see so many shoppers taking advantage of early sales and saving up rewards points to avoid costs adding up. Using a card with cashback can help you enjoy even more of the Christmas season by knowing you are making the most of your money. The American Express Platinum Cashback Everyday Card offers 5% cashback up to £100 for purchases made in the first three months, so you can get something back for each present you put under the tree.”