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For Christmas, the French plan to spend 603 euros on average

2020-11-24T16:45:51.106Z


Gifts and meals included, the average budget that the French are about to spend is up 54 euros compared to last year,


Despite the uncertainties linked to the economic and health crisis, the French intend to let go for the end of the year celebrations.

According to the 4th edition of Cofidis' “Budget, financial strategies and tips for the French people for Christmas” survey, carried out in partnership with Rakuten and the CSA Research institute, households plan to spend 603 euros on this occasion, including gifts of course (372 euros), meals (134 euros) or even decoration (28 euros) or their clothing (26 euros), the survey having been carried out in mid-October.

This is 54 euros more than last year, with in particular an additional 17 euros devoted to toys and other gifts that will be deposited at the foot of the tree.

"It's a cultural fact, Christmas has always been an important moment of sharing in the eyes of the French," underlines Mathieu Escarpit, Marketing Director of Cofidis.

This year, while 2020 was not a good vintage, there is this even stronger desire to have fun and to please.

"

Several billion euros saved

It is still obviously necessary to have the means.

Unsurprisingly, it is the wealthy socio-professional categories that will pay the most: on average 767 euros at Christmas (424 euros for CSP-), or 215 euros more than last year!

Among executives and higher intellectual professions, expenses will even reach 877 euros, including 534 euros just for gifts!

“During the first confinement, because we could no longer go to restaurants, the cinema, etc., several billion euros were saved by households,” recalls Mathieu Escarpit.

The problem is the same with this re-containment, except that part of the sums not spent this month - because we cannot go out - will be spent on Christmas shopping.

"

Age is another important parameter: people 65 and over will spend 744 euros, retirees 721 euros to spoil their loved ones.

Their budget is slightly down compared to last year, but remains high: "They are less affected by the crisis and continue to devote large sums certainly to please their children and grandchildren in this difficult context", he points out.

Workers more affected by the crisis

Conversely, the economic crisis has impacted the budget of the less well-off: while that of employees is rather stable (+24 euros), workers will spend 87 euros less than last year (329 euros).

“They are part of the populations most affected by the crisis and who have less opportunity to draw on their savings,” says Mathieu Escarpit.

To finance their purchases, workers are also 17% to declare to use a payment facility or a consumer credit (against 9% in general).

They were only 12% last year.

Employees, for their part, are 43% to favor vouchers or gift vouchers (against 30% for all categories).

Black Friday acclaimed

Tensions on purchasing power can also be seen in the various financial strategies adopted by individuals at the end of the year: 28% (+7 points) draw on their personal savings while 42% of the French (+6 points) state that they make their purchases during promotional periods (Black Friday or others).

This is particularly true among 18-24 year olds.

While they spend 368 euros for Christmas, 55% of them wait for the promos and 42% use the cashback and the prize pools of loyalty cards (against 30% for the rest of the French).

Source: leparis

All business articles on 2020-11-24

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