End-of-year holidays 2024: an average budget envelope up with 391 euros
As the countdown to the holiday season is launched, Sofinscope is looking at the related expenses. After two years of high inflation, the French are more serene, planning to devote a budget up 46 euros compared to last year: 391 euros (an evolution of +13%). This is despite the fact that 60% of them say they are forced to reduce their budget for the end-of-year holidays (down 6 points compared to 2023). This more comfortable budget is made possible by an exit from inflation, anticipation strategies and financing solutions.
AFTER TWO YEARS OF INFLATION, THE FRENCH ARE FACING MORE CALMLY THE END-OF-YEAR HOLIDAY EXPENSES
The end-of-year holidays are a pivotal moment in terms of consumption and the French are aware of this: two thirds of them declare that this is the period of the year during which they consume the most (64%, +2 pts vs 2023). Many of them also say they do not want to restrict themselves financially on this occasion (63%, -1 pt vs 2023).
Meeting the budget is a challenge and 37% of them say they have exceeded the budget they set themselves last year. They estimate that the excess expenditure incurred at the time was on average EUR 290.
This year, the noose seems to be loosening: the idea that they will be forced to cut their budget for the end of year holidays is down 6 points (60%). In this context, the amount they plan to devote to gifts for the end-of-year holidays is up by 46 euros compared to last year: it thus goes from 345 euros to 391 euros (an increase of +13%).
A MORE COMFORTABLE BUDGET, ENABLED BY ANTICIPATION STRATEGIES AND NEW BUYING HABITS
While decelerating inflation is helping the French to get their heads above water and to consider their spending for the end-of-year holidays more calmly, it is also accompanied by good practices that promote better control of the dedicated budget.
Only 11% of French people are last-minute enthusiasts, while more than 4 out of 10 (43%) are pragmatists to take on this task at the end of October, when offers and products appear in the showcase.
They are just as likely (43%) to further rationalize their purchasing habits to optimize their budget: among them, 21% are organized and make purchases throughout the year to spread their expenses and 22% are looking for good deals and buy only during promotional periods (Black Friday, private sales, etc.).
Beyond the gift purchase schedule, the choice of products put on their Christmas table is reviewed to limit costs: more than half of the French consider buying the ingredients of the festive meal in advance to pay them cheaper (55%). And 46% will swap champagne for crémant, foie gras for duck mousse, etc.
Second-hand gifts are also meeting with some success: 38% of French people plan to ask for second-hand items from their loved ones (55% of those under 35) and 36% to offer them to their entourage (56% of young people). Classic games and toys will be the most popular second-hand products this year (52%, +4 pts vs. 2023), followed by books and comics, which recorded a notable increase (49%, +8 pts vs. 2023).
The vintage spirit will also have the favor of the French to decorate their interior since 54% of them plan to use exclusively second-hand decoration.
INCOME, SAVINGS AND GIFT VOUCHERS ARE THE MAIN SOURCES OF GIFT FINANCING
To finance their gifts, the French will primarily use their income (67%, +4 pts vs 2023), followed by their savings (26%, stable) and vouchers (25%, +1 pt vs 2023). Payment facilities are always more attractive: while nearly one in three French people have already made this choice for this type of occasion (27%), 13% say they will finance their holiday gifts with payments in several installments (x2, x3 or x4CB).
It is interesting to note that after two years of restraint, the French budget for the end-of-year holidays is getting tighter. This shows a recovery in consumption dynamics and a certain confidence on the part of the French. We will of course be at the rendezvous of the preparations to accompany our trading partners and propose in particular the split payment, the financing solution that should be the most requested.
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About SofinscopeSofinscope is the barometer of Sofinco, a Crédit Agricole Personal Finance & Mobility brand. Intended to survey the French on their consumption habits and to better understand them, this barometer which is part of the daily lives of the French is carried out by OpinionWay for Sofinco, with representative samples of the French population. This study was carried out on a sample of 1,044 people, representative of the French population aged over 18 years. The sample was selected according to the quota method, taking into account the criteria of sex, age, socio-occupational category, agglomeration category and region of residence. The interviews were conducted from 2 to 3 October 2024 by self-administered online questionnaire on a CAWI (Computer Assisted Web Interview) system. All results are available online on Sofinscope: Sofinco’s Consumer and Daily Barometer
About Sofinco
In France, Sofinco is the trademark of Crédit Agricole Personal Finance & Mobility, which distributes a wide range of loans to individuals and associated services across all distribution channels: direct sales, point-of-sale financing (home equipment) and partnerships. Sofinco offers flexible, responsible solutions tailored to the needs of its customers and partners (major retail, specialized and institutional retailers). Google’s UX Finance 2023 Benchmark has awarded Sofinco.fr the title of “Best Mobile Customer Journey”. For more information: www.sofinco.fr