Reduced holiday spending due to inflation in Europe 2022| ��ƽ��

Share of consumers expected to reduce their Black Friday and Christmas spending due to the increased cost of living in selected European countries in 2022

Characteristic	Yes, I intend to cut all related expenses	Yes, I intend to cut most related expenses	Yes, I intend to cut some related expenses	No, I do not intend to cut related expenses
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Release date

October 2022

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Region

France, Germany, Italy, Spain, United Kingdom

Survey time period

August 2022

Number of respondents

more than 8,000*

Supplementary notes

* The survey included responses from more than 8,000 consumers in the United Kingdom, United States, Canada, Australia, Germany, France, Italy, and Spain.

This question was phrased by the source as follows: "If we go by your non-food expenses during Black Friday and Christmas, do you expect to reduce them this year due to the rising cost of living?"

Citation formats

For 2022's holiday season, a significant share of consumers intended to cut back on spending due to inflation. In the United Kingdom (UK), for example, roughly **** in ** shoppers said they expected to reduce all of their Black Friday and Christmas spending this year. Only about ** percent of surveyed UK consumers said they would not cut back on their holiday spending. According to the same report, European holiday season spending in 2022 was expected to see a considerable drop in comparison to 2021.

Why do consumers shop on Black Friday?

Black Friday takes place on the Friday after Thanksgiving in the United States and is the largest discount shopping event of the year. While Thanksgiving is not celebrated overseas, the shopping event did become an international phenomenon over time. When asked why they planned to shop during Black Friday, about in ** consumers in the United Kingdom said the sales event offers better deals and prices for buying gifts.

The impact of inflation on holiday shopping

Unsurprisingly, consumers are more cautious about their spending due to the wave of rising consumer prices. This applies especially during the holiday season, which is typically a time of year that involves more expenses than usual. According to a survey conducted in Germany, roughly half of consumers planned to pay closer attention to offers during Black Friday as a result of rising prices and the effects of the energy crisis in 2022. Close to the same number of German shoppers said they intended to buy less overall.