Christmas 2024 in Polish homes will remain full of tradition but will largely be shaped by financial constraints. In the face of persistent high inflation and a decrease in purchasing power, there is growing caution in planning holiday spending. According to the “Poles’ Holiday Spending” survey commissioned by the BIG InfoMonitor Debt Register, one in three Poles expects this year’s Christmas to be less lavish, with expenses being planned in advance and with more caution. Nearly 50% of respondents admit that they purchase everything no later than three weeks before Christmas Eve. Some are even forgoing gifts (28%) and the preparation of holiday meals (28%). The average Polish household plans to spend around PLN 1,500 for Christmas.
Christmas Eve Remains the Heart of the Holiday Season
Christmas Eve remains the most important part of Christmas celebrations, with 89% of Poles spending it with their closest family, a result similar to previous years. However, the difficult financial situation forces more people to scale down their holiday gatherings. 15% of respondents declared that this year’s Christmas Eve will be celebrated with fewer people than last year, which may reflect a growing need for savings as well as changes in social habits. Despite ongoing financial pressure, most respondents (65%) expect this year’s Christmas to be similar to last year’s. However, 32% of Poles expect more modest celebrations, while only 3% anticipate more lavish festivities.
Pressure of Holiday Costs
The average expenditure for Christmas in 2024 will be PLN 1,460, roughly the same as last year. However, a breakdown of spending categories reveals significant changes. The largest portion of this amount, PLN 542, will go toward gifts, representing a 4% increase compared to last year. Meanwhile, food expenses have decreased by 2%, totaling an average of PLN 518.
A notable trend is the growing number of people opting out of buying gifts, with 16% of respondents declaring they won’t be purchasing presents this year, up by 4 percentage points compared to 2023. For those who do buy gifts, early planning is increasingly common, with nearly half of Poles (46%) shopping at least three months ahead. Only 8% leave it until the last days before Christmas Eve.
– We are seeing that Poles’ holiday shopping decisions are becoming more conscious and aligned with household budget capabilities. The increase in the number of people foregoing gifts and the growing popularity of early planning signals a rising need for cost rationalization. This means that retailers must adjust their strategies, such as offering promotions early in the fall, to meet consumer needs. In the long term, these trends could help stabilize the level of debt associated with impulsive holiday shopping – comments Sławomir Grzelczak, CEO of BIG InfoMonitor.
Where and How Poles Shop for Christmas
The BIG InfoMonitor report reveals that online shopping has become the dominant form of purchasing Christmas gifts, with 44% of respondents doing so exclusively or mainly online, while 29% prefer in-store shopping. Additionally, more people are using tools that allow them to spread the cost over time, with 9% of respondents having financed gifts through deferred payment options, and the same percentage planning to use this option soon.
– The rapid growth of e-commerce channels indicates a lasting change in consumer behavior, especially during the holiday season. The increase in the popularity of online shopping forces sellers to not only enhance logistics but also offer flexible payment options. This presents an opportunity to boost sales but also a challenge related to responsible consumer credit. In the context of rising living costs, such solutions can support household budgets but require proper management by both clients and financial service providers. Responsible use of deferred payments will undoubtedly be useful for buyers, who should also ensure they settle them within the interest-free period – warns Sławomir Grzelczak.
How Will Christmas Be Financed?
Despite high inflation, the majority of Poles (72%) plan to cover holiday expenses with current income, and 16% will dip into their savings. Only 4% of respondents plan to take out a loan or credit. One in three Poles expects to feel the financial impact of Christmas expenses in the months that follow – 23% will feel it within one month, 12% will experience it for two to three months, and 4% for four to six months. This is 8 percentage points lower than last year.
– Caution is key, especially considering that the total amount of overdue non-credit and credit obligations recorded in our databases, such as the BIG InfoMonitor Debt Register and the BIK credit information database, reached nearly PLN 87 billion by the end of October. In previous years, we saw a significant increase in debt following this period. I’m curious to see how it will unfold this time, but we will have more data in the first quarter of next year. However, it’s encouraging that fewer people expect negative consequences from excessive holiday spending – adds Sławomir Grzelczak.
Nearly half of Poles (48%) remain indifferent to early holiday promotions and do not take any action under the influence of this type of marketing. 18% of respondents avoid stores that promote Christmas shopping too early.
Survey Details
The “Poles’ Holiday Spending” survey was conducted using the CAWI method by Quality Watch on behalf of BIG InfoMonitor, with a sample of 1,061 Poles aged 18+, in December 2024.
Source: managerplus.pl
