One in four still have unspent Christmas vouchers

People expect to spend an average of €1,163 this Christmas.

A new survey of Irish shoppers has found that one in four has not used their gift vouchers from last Christmas.

The survey, by Ireland's consumer protection watchdog, the Competition and Consumer Protection Commission (CCPC), found that people expect to spend an average of €1,163 this Christmas, broadly in line with 2024, with one in five planning to borrow to fund their spending.

“Our research shows how popular vouchers are as gifts, but if they’re not used, they’re a waste of money," CCPC's Grainne Griffin said. "We are encouraging consumers to use gift vouchers as soon as possible, and if you’re thinking of giving someone a voucher this year, maybe consider if they would prefer cash – it comes with fewer terms and conditions."

The survey, based on more than 1,000 interviews, found that one in four of those who have Christmas savings start saving between July and September, with a further two in five saving year-round. Three-quarters of all women start their Christmas shopping before December, compared to half of all men

"We’re glad to see that the numbers borrowing to cover Christmas haven’t increased on last year. However, we know that people spend more than they need to on credit by using the wrong products. Credit cards are only a good choice if you can fully clear your bill in January; otherwise, they can be one of the most expensive forms of borrowing. If you need to borrow, consider a personal loan from a bank or credit union. Avoid moneylenders."

The age group between 45-54 is expected to spend the most with an average of €1,465. There was a big difference in average expected spend between households with children (€1,601) and those without children (€995).

“From our research it appears that consumers are taking quite a sensible approach to Christmas spending. While costs have risen, most consumers don’t plan to spend any more than last year," Ms Griffin said.