"I want the French to spend,"
hammered the Minister of the Economy in August, referring to the tens of billions of euros accumulated in savings accounts, a consequence of the Covid-19 crisis.
Has Bruno Le Maire finally been heard as Christmas approaches?
According to a CSA Research study for Cofidis and the Rakuten e-commerce site (*), this year the average budget planned (gifts, meals, outfits, etc.) has increased significantly, by 54 euros, compared to 2019, reaching 603 euros.
An amount borne by the gifts budget, which represents more than half of this amount (372 euros).
Read also: Shops, trips, Christmas: what Macron should announce next week
A quarter of French people surveyed may declare that their budget will be, due to the crisis, lower than that of last year, the rest of the panel largely compensates, with an average budget planned much higher than that of 2019 (549 euros) as well as to that of 2018 (571 euros).
"Christmas is the feast of the French"
Is it any wonder that suddenly the French are preparing to consume much more than usual, despite the economic uncertainty?
The cultural attachment to December 25 has a lot to do with it.
Cofidis Marketing Director Mathieu Escarpit assures us: “
Christmas is the feast of the French!
If there is one time in the year when they want to treat themselves, it's Christmas
. "
A trend precisely reinforced by the ambient gloom.
Philippe Moati, economist and co-president of the Observatory for society and consumption (Obsoco), explains: “
Christmas presents itself as an enchanted break in a gloomy atmosphere for the French.
This can encourage them to spend: spoil the children, get together around a good meal ...
"
And this year, “
intergenerational solidarity
”, in the words of Mathieu Escarpit, should play to the full.
The survey shows it: it is among those 50 years and over that the average budget allocated to Christmas is the highest, reaching 696 euros, and climbing to 744 euros for those 65 and over.
“
Retirees are less affected by the economic crisis than the rest of the population, due to their status.
They therefore want to please their children and grandchildren all the more
, ”interprets the marketing director.
Containment savings put to use
Because there is money to spend.
Marked by two confinements, 2020 is the year of savings.
Whether for fear of the future or strategy, the French have never put aside so much.
"It
is therefore these" non-spending "that will be reinjected into the Christmas economy,
" analyzes Mathieu Escarpit.
A trend visible in the figures: 28% of them are digging into their savings this year, against 21% last year.
The French are also more likely than last year to say they put money aside all year to exclusively finance the holidays.
They thus go from 55% in 2019 to 60% in 2020. “
We can clearly see that there is an anticipation of expenditure.
Moreover, there was no increase in the intention to subscribe to a consumer loan
, ”continues Mathieu Escarpit.
Read also: The store race against time to save Christmas
Will the purchasing intentions of the French be verified in stores or on e-commerce sites?
"T
hese figures should be taken with caution,
" warns Philippe Moati.
“
The study was carried out in mid-October, when the French were not yet confined.
Objective factors, such as the limitation of movement, assembly, or the
health protocol imposed on businesses
, could have an impact on real Christmas expenses
, ”he points out.
The consumption for Christmas will therefore depend, in part, on the announcements of Emmanuel Macron on Tuesday evening.
(*) Survey carried out by self-administered questionnaire from October 14 to 19, 2020 with a representative sample of 1006 French people aged 18 and over.
