Brits have already spent £1.7 billion on Christmas gifts this year

With less than 100 days left until Christmas, it’s been revealed that Brits have already spent £1.7 billion on the festive season this year.

This is according to research by American Express which showed that 15.8 million Brits, or 30 per cent of UK adults who celebrate or shop for the festive season, have already started their shopping this month.

Andrei Ciripitca, Vice President at American Express, said: “The festive period is an important time for businesses and shoppers alike, and we continue to see many people spreading their Christmas shopping throughout the year. Our data also shows the importance of offers and deals to Brits’ spending decisions.

The research also highlighted where consumers want to spend,  79 per cent shoppers said it’s important to support local businesses when shopping this season. This includes three-quarters of 18-34 year olds, 75 per cent, and over eight out of ten aged 55+, 82 per cent.

The research showed that those who have started their seasonal spending have already spent an average of £94 just on gifts. This increases to £110 when considering everything else they have bought such as; food, drink, travel and decorations.

American Express’ research also showed what has motivated consumers to start spending. With 41 per cent indicated deals and offers would influence their decision to spend more on gifts for family and friends, compared to just 16 per cent who said gift guides and 14 per cent who said Christmas ads.

It also showed that there are some elements that many Brits won’t compromise on. For example, when asked what items they would consider forgoing this season, turkey is set to remain a firm fixture at the dinner table for many with 35 per cent saying they wouldn’t compromise on it, followed by the Christmas tree and decorations (33 per cent).

On the other hand, almost three quarters of Brits, 73 per cent, said they would consider compromising on Christmas pudding.