Ferratum Group Surveys 21,000 Households on 2017 Christmas Spending Habits

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The largest Ferratum International Christmas Survey compares consumer behaviour in 20 countries

In Canada, we’re seeing the same worldwide trend of clothing being the most gifted item at Christmas, followed by gift cards and toys. Fortunately, these are a popular, abundant, and a simple choice for the 27% of Canadians shopping online placing Canada 5th overall among the countries surveyed.

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.

Spending Trends

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.

Canadian Spending Trends

In Canada, 18.4% of disposable income will be spent on gift giving placing Canada among the middle of the pack. Interestingly, 70% of Canadians surveyed are expecting to spend the same or more this season.

Staying Mobile

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.

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.

In Canada, we’re seeing the same worldwide trend of clothing being the most gifted item at Christmas, followed by gift cards and toys. Fortunately, these are a popular, abundant, and a simple choice for the 27% of Canadians shopping online placing Canada 5th overall among the countries surveyed.

How was 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.

ENDS

About Ferratum Group:
Ferratum Group is an international provider of mobile banking and digital consumer and small business loans, distributed and managed by mobile devices. Founded in 2005 and headquartered in Helsinki, Finland, Ferratum has expanded rapidly to 25 countries across Europe, Africa, South and North America and the Asia-Pacific region.

As a pioneer in digital and mobile financial services technology, Ferratum is at the forefront of the digital banking revolution. Ferratum Mobile Bank, launched in 2016, is an innovative mobile banking platform offering a range of banking services, including real time digital payments and transfers, within a single app. It is currently available in five European markets. Led by its founder, Jorma Jokela, Ferratum has approximately 1.8 million active and former customers who have been granted one or more loans in the past (as at 30 September 2017).

Ferratum Group is listed on the Prime Standard of Frankfurt Stock Exchange under symbol ‘FRU.’ For more information, visit http://www.ferratumgroup.com.

Contacts:

Ferratum Group    
Emmi Kyykkä
Business Support Manager for CEO
T: +41 79 940 6315
E: emmi.kyykka(at)ferratum(dot)com

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Ryan Petch

Emmi Kyykkä
Ferratum Money
since: 01/2015
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