Research has found that this year the UK households are set to spend nearly 40% of their disposable income during the festive season.
Mobile lending financial tech company Ferratum, published their annual research titled Christmas Barometer 2015, revealing that the UK consumers are the most generous for spending money during the Christmas season. This exceeds the global average of 23% when compared to the twenty other countries surveyed.
The research revealed that households were finding that continuing to spend the same level of money at Christmas was difficult in 2015. The report revealed that 20% of households intend to spend less money this year, whilst 65% claim they will spend a similar amount.
The Christmas Barometer 2015 was an anonymous web survey for Ferratum Group’s current customers across 21 counties in Europe and the Commonwealth. 14,205 households that responded were asked about their disposable monthly net income, which activities they spend money on, how much online shopping they do and how much do they spend at Christmas.
Research found that the respondents were aged 21-65 and participating households average available net income was €805 - €10,350 (roughly £613 - £7,450).
Incomes are stated in local currency and relative Christmas consumption is calculated as ratio of a household’s monthly disposable income. Individual purchasing power parity is based on figure in 2014 by The World Bank, disposable income were adjusted by each country.