Problem with last minute holiday shopping revaled in a study

Posted 2007-12-14

As a result of little or no planning, this Christmas, people are in panic mode. They seem to be in a  gift-buying frenzy. It is estimated by Egg, a credit card provider, that around 594 million pounds will be over spent due to this panic shopping spree.

As with most people world over, similarly millions of Britons leave their Christmas shopping, to a week prior to Christmas. This is the main reason of the waste in credit and cash.

Moreover, leave it to another 800,000 to wait till Christmas Eve to do their shopping. The Egg study and research reveals to us, that due to this last minute frantic buying, on an average each later shopper overspends around 39% which is equal to £150.

As Chief Marketing Officer at Egg, Alison Wright, rightly puts that we all have ample time to shop for Christmas during the year. We have as much as 12 months notice, but as always, we all end up waiting till the last minute. This last minute shopping is when panic is at its peak, when we’re out to get the best and the cost nor choice doesn’t matter. If consumers plan in advance they won’t have to over spend at Christmas.

What’s more the Egg research reveals that contrary to popular belief, women too leave their Christmas shopping for the last minute, it’s not just the men folk. Surprised, huh?

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