UK households are set to spend 38.5% of their disposable income during the festive season this year, according to research published this week.
The annual research, entitled the Christmas Barometer 2015 and published by mobile lending and financial tech company Ferratum, reveals that consumers in the UK are keener to splash the cash when it comes to Christmas, spending than the other 20 countries surveyed, far exceeding the global average of 23%.
According to the research, households worldwide are finding this level of Christmas spend hard to maintain in 2015; 20% of those households will spend less money compared with last year, with two thirds (64.6%) stating they intend to spend a similar amount.
The Christmas Barometer 2015 was conducted as an anonymous web survey for Ferratum Group’s active customers across 21 countries in Europe and the Commonwealth. Respondents from 14,205 households were asked about disposable monthly net income, how much they spend on Christmas, which activities they spend their money on, how much shopping they do online.
Respondents were aged 21-65 and the average available net income of participating households was €805-€10,350 (about £613 to £7,450). Incomes are stated in local currency and relative Christmas consuming is calculated as a ratio of a household’s monthly disposable income. Disposable incomes were adjusted by each country and individual purchasing power parity is based on 2014 figures by The World Bank.