Survey of UK adults finds 49% are looking to cut back on gifts, 46% on eating out, 35% on both general socializing and food, drink at home; of those planning to reduce Christmas spending, 45% plan to buy food from budget-friendly supermarkets: Accenture

Sample article from our Consumer Wellness

October 27, 2022 (press release) –

Over two-thirds of British adults are planning to cut back on festive spending this year due to a worsening cost of living crisis, according to a survey published on Thursday.

Despite enduring two Christmases under social restrictions linked to the COVID-19 pandemic, three quarters of adults are not planning a big celebration, the survey by Accenture showed.

About 49% of those surveyed were looking to cut back on gifts, 46% on eating out, and 35% on both general socialising and food and drink at home.

Of those planning to reduce spending this Christmas, 45% plan to buy food from budget-friendly supermarkets.

"The fact that shoppers are planning to spend less on gifts this year reflects just how low the mood feels in the run up to this Christmas," Accenture's retail strategy and consulting lead Kelly Askew said.

With inflation running at 10%, UK consumer confidence remains close to its gloomiest on record and households have been reining in spending.

Another survey by supermarket group Asda on Wednesday showed UK families were 141 pounds ($163.5) worse off in September year-on-year.

The Accenture data is more pessimistic than a survey published by market researcher Kantar on Monday which said half of Britons plan to spend less on Christmas this year.

Tesco, Britain's biggest retailer, said earlier this month that Britons would still want to celebrate Christmas but would seek to do it in a more affordable way.

Consumers also face the prospect of a tighter squeeze in 2023 after finance minister Jeremy Hunt scrapped tax cuts previously planned by former Prime Minister Liz Truss and scaled back her vast energy support scheme for households.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.

See our dashboard in action - schedule an demo
Dan Rivard
Dan Rivard
- VP Market Development -

We offer built-to-order consumer wellness coverage for our clients. Contact us for a free consultation.

About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025

+1 (310) 553 0008

About Cookies On This Site

We collect data, including through use of cookies and similar technology ("cookies") that enchance the online experience. By clicking "I agree", you agree to our cookies, agree to bound by our Terms of Use, and acknowledge our Privacy Policy. For more information on our data practices and how to exercise your privacy rights, please see our Privacy Policy.