The study reported in NM, based on a survey "with a sample of 1,000 respondents representing the Portuguese population between the ages of 18 and 65", concluded that "three out of four have already started Christmas shopping or intend to do so during the month of November, with 14% considering starting these purchases during Black Friday".

"The intention to reduce costs during the festive season is more expressive with those who have children, housing credit, income up to 1,600 euros net per household or are responsible for paying electricity, gas and water bills", highlighted Netsonda.

"The vast majority of Portuguese recognise that the rise in prices recorded in Portugal is a factor that will influence the number of gifts they will buy and the money they will spend on them", and, "when comparing with last year, 29% intend to effectively reduce the number of gifts they will give and 44% intend to spend less money on them".

How much is being spent?

In the Netsonda study, respondents revealed the intention to buy, on average, around nine Christmas gifts and spend around €217 in total on the gifts.

"Gifts for sale in a place where it is convenient to buy (nearby store, online) is important for seven out of 10 Portuguese people. 57% plan to buy Christmas gifts both in physical stores and online and only 34% want to buy from Christmas exclusively in physical stores", can be read in the same statement.

The study also reveals that more than 90% of the Portuguese are "very concerned about inflation in the price of food products, energy prices and the rise in fuel prices". In addition, "the rise in mortgage interest rates is also a major concern for 91% of holders of this type of credit."

Author
TPN