How Can Brits Save More On Shopping This Christmas?

The Holiday Shopper Report, based on a survey of 4000 people from the US and UK, reveals some key shopping insights. According to the report, “76% of shoppers plan to increase their budget for Christmas gifts in compared to last year.” Alternatively, 56% of individuals reveal interest in reducing the expenses of dining out, travel, socialising, and entertainment.

Cutting on such costs will help Brits increase their holiday budget.  It is ideal to start your Christmas shopping now. It helps save money ahead of the festive rush. You can grab some big deals on gifts and other products. It eventually reduces stress and makes the occasion more enjoyable.

How much do Brits plan to invest in Christmas shopping in 2024?

The average British customer plans to spend almost £600(593.93) on Christmas shopping in 2024. Under this, 55% of individuals plan to invest the most in gift purchases. Food and drink (18%), travel (6%), socialising and decoration (2%) are next.

However, Gen Z and millennials prioritise conscious expenses this year. They wish to cut the costs and spend a little this Christmas. One reason could be the unpredictable job market and low savings/income.

7 strategies to reduce expenses on Christmas Shopping

According to Tiger.co.uk director, a vehicle insurance company, “Shopping around for deals, buying early and fetching discounts may help save.” It is high time to hunt for deals. It helps avoid the last-minute expenses.  Check whether you have any build-up loyalty points. If yes, you can use it to purchase gifts and decorative items affordably. Here are other tips to save on Christmas shopping in 2024:

1) Set up price alerts for items

It is one of the best ways to track ongoing deals and grab one. Check the most trusted online shopping portals. You may spot active deals there. However, keeping tabs on every item is challenging. Thus, setting up price alerts may help. The online shopping store notifies you of the price drop if you set one.  What could be better than fetching items at the lowest prices? It is the best way to boost savings on purchases.

2) Benefit from The October sales

Many retailers promote the deals days before Christmas. You may spot multiple and biggest discount offers in October. For example, you can witness popular Amazon Prime Big Deal Days and Walmart holiday deals.  Moreover, the most awaited Black Friday sales begin mid-October.  However, Black Friday is on 29th November December. The sales start early. Grab your purse and prepare the list of items. It will help you grab the items. However, you may spot the stores packed with this buzz. Thus, there is a chance you may miss the deal.

What if you grabbed the item but fell short of cash? You sincerely would not want to lose the items that you put in the cart. However, not utilising the store cards or loyalty points before expiry proves troublesome. Check whether they help bridge the amount. If not, don’t let the hold of the card. Get quick cash.

Identify the items and the cost.  You may have covered everything from decoration to dinner preparation. The costs may cross £4000 here. Moreover, discounts grant one the flexibility to buy extra and store. Identify the bill and amount you need.

If you need £5000 more to cover the dues, don’t worry. You may get a £5000 loan over 5 years in the UK marketplace. Individuals with low income or cash flexibility may benefit from this. Yes, you can buy the things now and pay for the instalments in 5 years. It reduces the monthly liabilities significantly. Identify the best way to settle the dues comfortably. Avoid paying the loan early if the creditor does not allow it.

3)  Earn rewards on holiday-specific purchases

Holiday shopping grants one the opportunity to benefit from the rewards. You can get it either from the retailers or the credit card provider. The shocking part is some retailers offer better discounts to loyalty members on holiday shopping. Check your loyalty card's validity to benefit from this deal.

You could cover up the holiday expenses on gift shopping. You may benefit from that even if you purchase the last-minute gift. Additionally, don’t forget to leverage discounts from the favourite shopping platforms like- TopCashback, Capital One Shopping, and RetailMeNot.

4) Always plan before purchasing

Every year, consumers waste good quality food and drink. It is not only a waste of food but also a waste of money. According to Helen White, Love Food Hate Waste, “prepare an old-fashioned shopping list. Avoid shopping on auto-pilot. Don’t buy festive food just because of the tradition. Instead, analyse the food you wasted last year and avoid purchasing that this year.”

 It would help you purchase only what you need. Moreover, having clarity on groceries helps create the dinner menu easily. Or better, create the menu first and buy later. It prevents you from buying anything that you don’t need.

5)  Announce the “break from the tradition”

You don’t have to stick to the same Christmas regime every year. Instead, create your own that’s feasible for your budget and meets your needs. Here are some tips to do so:

ü  Check whether you can do without the real Christmas tree. It may help you save incredible pennies.

ü  It is not necessary to treat your guests with Turkey every time. They may love something else, preferably Chicken.

ü  Introduce Secret Santa among family and friends this year. It prevents you from planning gifts for multiple people.

ü  Replace the gifting wrapper with brown paper. You can use stickers, ribbons, and tags to make it beautiful.

ü  Do you need that many Christmas decorations? Instead, check DIY ways to decorate your home. Identify the old decorative stuff that you may use.

6)  Leverage 0% introductory offers

Nearly every person has this credit card with 0% introductory charges. You can utilise this for your Christmas shopping. What could be better than shopping enough without paying interest? Read the terms and conditions before using it. Check the best items you can get benefits on with the card. Use the card wisely. Plan the costs that you can afford to settle comfortably.

It is the first thumb rule to use a credit card. Clear the balance before the introductory period ends. It helps you make the best use of the card.   If you want to reduce the cost of everything you need this Christmas, it could be an option.

7)  Check dupes of the popular brands

Dupes are nothing but cheaper versions of famous brands. However, finding one requires you to do some detailed research. Check the alternatives of your products at low prices.  Yes, you may spot better versions of the Mark & Spencer, too. Align the ingredients, material and other aspects to choose one. For example, try wines from Aldi this year.

It is a cheaper alternative that produces high-end wines.  Thus, you don’t have to compromise on the ingredients or nutrient quality. Instead, just find the best alternative to your favourite brand. It reduces the expense burden greatly.

Bottom line

Although Brits are more concerned about saving this year, the tips come savvy. You can check out the above-listed options to plan the occasion.  Leverage, insurance covers, loyalty and rewards points to cut costs. It is one of the prominent tips to save on Christmas shopping in 2024. Insurance covers helping repair the car or safeguarding the new Christmas assets. You can use the reward points before expiry to fund the purchase. Tips like these are the key to massive savings.