Christmas - A Favourable Time For Business
In mid-November you probably don't think of Christmas as fast approaching. But look around and you'll see the streets, stores and malls dress up in Christmas attire - a sure sign that the festive season is near.
WIRRAL, UK, November 27, 2012
FunStream wanted to check if Christmas is a favourable time for making online business in the UK. To see how much the British will spend on the Christmas holidays in the face of financially harsh times, we administered a survey among 200 people from around the UK asking them to share with us their plans for Christmas. Then we drew some conclusions if these answers outline any tendencies related to online business.Surprising as it may sound, most of the British intend to have the time of their life this year again, never mind the general financial gloom, or perhaps because of it. Seven in every ten respondents say that will not give up their habits of buying Christmas presents and throwing a Christmas and New Year party. Rich tables, lavish dinners, luxurious gifts, and new outfits are few of the customs the British would not give up.
Many admit that pushing the boat out at Christmas will have a negative effect on their financial situation after the holidays but do not plan to "cancel" Christmas, especially after a couple of years of less extravagant festivities.
More worryingly, though, more than half (58%) say they have not saved anything during the year to meet the Christmas spending. Two in every ten answer that they will borrow money from friends and family, get overdrafts and use credit cards, to buy gifts and provide the Christmas dinner. None of the respondents, however, said that they would reduce what they spend on gifts.
As to the other usual Christmas pleasures such a trip abroad, a new car, a grand dinner for a huge circle of friends and family - some 47% of the British have decided to cut them to an extend or altogether. The main reason for this is the desire to save some money for the long month of January, which is generally accepted as the most gloomy month of the year. Many say that their salary will not be enough to cover these costs this year.
A tendency worth noting here is the fact that even if the British reduce their circle of friends to give presents to, this will hardly affect the price and quality of gifts. They will simply shift the channels of shopping. Half of the respondents will buy gifts online in an attempt to save.
Interestingly, Christmas turns out to be a favourable time for online businesses of every sort - be it gift stores, fancy dress online shops, and so on. More specifically, as much as 47% will look for special offers online, check out the collective shopping websites, benefit from loyalty and reward programmes, and use discount coupons.
This trend is easily spotted among the younger respondents, aged 20-40, who take to the online environment more naturally. Men are also more eager to shop online compared to women. We find a possible explanation for this trend in the fact that women by rule take a lot of pleasure in offline shopping.
We hope that no one in the UK will have to cancel their Christmas and will have a party to remember.