The Ferratum Christmas Barometer 2017
In light of the current COVID-19 we will not be accepting any new loan applications. The well-being of our customers is of absolute priority and therefore we ask you to contact us via chat, email or phone if you have an existing account and require any help.
Many customers will be faced with income interruptions as a result of this crisis and so therefore we are recommending that you refer here for useful advice: https://www.moneyadviceservice.org.uk/en/articles/coronavirus-what-it-means-for-you
We surveyed over 21,000 people across the world. Find out the results from the Ferratum Christmas Barometer 2017 here.
What is the Ferratum Christmas Barometer 2017?
Since 2014, Ferratum Group has been asking its customers to share their spending habits. The survey is conducted twice a year — once during the Summer holidays and, again, just before Christmas.
The purpose of the survey is to review our customers´ spending behaviours during the holidays, what types of purchases will be made, and how spending differs between countries. The survey also explores how people plan to spend their Christmas holidays, which country will be spending the most money during the season, who will be using Airbnb for their accommodation, and which countries prefer online shopping more to shopping marathons.
In our seventh and largest survey to date, with over 21,000 respondents, we’re excited to share our findings of Christmas spending behaviour across the globe in the FERRATUM CHRISTMAS BAROMETER 2017™
The Largest Ferratum International Christmas Survey Compares Consumer Behaviour in 20 Countries
Over 21,000 households participated in Ferratum Group’s Christmas Barometer™, which was carried out for the fourth successive year. So what are the most popular gift purchases, and which country will be spending the most this Christmas? Will people make their Christmas purchases online or via traditional retail?
Our results show that 20% will be increasing their spending, while nearly 50% of households will be spending as much on gifts and celebrations as they did last Christmas.
The Barometer shows that in the UK, shoppers are increasingly utilising online services to make the most of their budget over Christmas. A quarter of UK respondents report that they will do more than 50% of their shopping online, and more than two thirds will use mobile banking to manage their finances.
According to the results in our 2017 Christmas Barometer™, the top Christmas spenders this year will be Mexico (34.6%), Romania (31.9%), Spain (29.6%), and Brazil (28.2%). At the other end of the scale, we can find Croatia (14.4%), Norway (13.4), Finland (12.3%), and the Netherlands (11.8%) who will retain their position from last year as the lowest spenders during Christmas.
Our survey shows that Christmas spending will be high in both New Zealand and Australia with households from both countries allocating 22%-23% of their monthly salary on Christmas.
“With 80% of UK respondents reporting that they plan to spend the same, or less than last year, the Barometer shows that UK shoppers are mostly reluctant to increase their expenditure over Christmas. With the unsurity of events such as Brexit and the possible repurcussions on the pound, the UK may be feeling reserved about increasing spending, even though the cost of goods is currently increasing.”
Antony Gundersen, UK Country Manager
More than 50% of survey participants will be using cards over cash to pay for Christmas. 70% of those in Norway and Sweden chose card as their preferred method of payment.
When it comes to banking, over 60% of all respondents said they would use mobile banking for their daily transactions. More than 80% of respondents in Australia, New Zealand, Netherlands, Sweden, Norway, and Canada said they would be using mobile banking during Christmas.
Where are people shopping and what are they buying?
Similar to last year, the number of households shopping online will be around 25%. Germany, UK and the Netherlands are the most digital savvy when it comes to purchasing Christmas gifts online, while Croatia, Latvia and Mexico are the most traditional, preferring, physical retail for their Christmas shopping.
Top Christas spending behaviour
So, what do people expect to get for Christmas this year? 17.5% of respondents put clothes at the top of the list making it the most popular item to give and recieve. Toys and games (13.7%), sweets (12%), and consumer electronics (9.1%) were other popular choices.
Respondents from eleven countries said they prefered clothing as Christmas gifts. Finland (17.5%) and Croatia (23.9%) will spend a large portion of their Christmas budget on sweets and delicacies, while respondents in the UK, Sweden, Australia, and Estonia said they´ll be spending 20% of their Christmas budget on toys and games.
“The Barometer shows that the UK continues to embrace the growing trend for heading online for Christmas expenditure. With UK shoppers spending 20% of their budget on toys and games, comparing prices, reading reviews and signing up for stock alerts mean shopping online is often the way to get the best deals.”
Antony Gundersen, UK Country Manager.
How was the Ferratum Group Christmas Barometer 2017™ Conducted
- Over 21,000 households participated in the survey. Respondents were aged from 18 – 61+. 58.8% of participants were female. The average available net income of participating households was between €555 – €4,580. The average household size among respondents was 2.89 persons.
- In addition to demographic factors, respondents were asked about their disposable monthly net income, how much they spend on Christmas, what activities they will be spending their money on, and if they are going to use Airbnb or a hotel while travelling during Christmas.
- The survey used each country’s respective currency. Responses were evened out to reflect the respective purchasing power of each country. All survey respondents were anonymous.
Check out all full results on the Ferratum Barometer website here.
Did you like this article? Share it using the buttons below, or click the link to read another blog...
|Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk. Representative example: APR 1270% if borrowing £400 for 4 months. Interest rate: 292% p.a. (fixed). Total amount repayable: £665.48 by four instalments of £166.37. Maximum representative APR: 1604% if full loan repaid after 7 days.|