Saving money news
Men set to spend most on Christmas festivities
5 December, 2007
Despite the housing market doom and gloom and general economic concerns, people on average are planning a bigger festive budget than last year according to new research.
American Express has found that shoppers are planning to spend on average £511each this Christmas - £50 more than last year, with men planning to spend £60 more than women over the festive season.
The research shows an anticipated average spend of £307 on presents, which is dramatically lower than figures out earlier this month predicting spends of £1,300.
Almost half of shoppers expect to pay for Christmas using their credit card, with just under a third planning to redeem loyalty points to help budget for Christmas expenditure.
Women are more likely to redeem points than men, with more than a third of women expecting to use reward points compared to over a quarter of men. Two-fifths of respondents in Yorkshire expect to redeem their loyalty points compared to one-fifth of people in London and the Midlands.
Tom Allder, Vice President UK Lending, American Express, said: “Wise men and women should be looking around for ways to make the most of their Christmas spending.
“From loyalty points to a market leading 5 per cent cashback or contributing directly to fighting AIDS in Africa, spenders could get more for their money each time with an American Express Credit Card.”
Bookmark with:
