Image: Volker Weihbold
“Christmas giving is loved, hated, used to and ultimately demanded,” says institute director and retail expert Christoph Teller. Giving is part of our culture, which is what makes the Christmas business resilient to crises – despite rising prices and generally declining purchasing mood.
In a survey of 1,042 consumers, the institute evaluated why Austrians give gifts at Christmas. 90 percent want to make others happy, 85 percent want to give gifts to show how much they like the recipient, 63 percent want to show their relationship with the recipient.
Other motives also play a role – albeit a less strong one. One in three respondents gives because they say it is expected of them, and one in five gives in order to receive Christmas presents themselves.
Four out of ten Austrians don’t enjoy shopping for gifts. According to a survey, the later you start Christmas shopping, the less fun it is. While 71 percent of those who buy their gifts in October enjoy it, the figure for “late shoppers” (up to three days before Christmas) is 33 percent.
“The astonishing crisis resistance of Christmas spending will continue this year with a forecast of 2.32 billion euros,” says Teller. But the Christmas business alone will not be able to save retail because it “only” accounts for around two and a half percent of annual retail spending.
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