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40% of people in Latvia plan to spend up to EUR 100 on Christmas and New Year gifts – poll

The majority of Latvians, or 40 percent, plan to spend up to EUR 100 on Christmas and New Year gifts this year, representatives of “SEB banka” informed LETA, citing the data of a survey.

An equal number of people – 15 percent of respondents – plan to spend between EUR 100 and 150 and between EUR 150 and EUR 250 on festive gifts. 12 percent of the Latvian population will spend more than EUR 250 on gifts.

More than half, or 63 percent, of respondents say they will spend a similar amount on festive gifts as last year, while 21 percent will spend less this year.

Younger people in Latvia are the most likely to spend more money – more than EUR 150 – on gifts.

Many people postpone buying gifts until the last minute, while a third, or 32 percent, are saving for this purpose.

Women and young people up to 29 years of age are more likely to save money for festive gifts. Most start saving for gifts for people close to them in autumn.

Equally many buy gifts in sales or special discount campaigns (26 percent), or look for gifts one to two weeks before the holidays (25 percent). Yet just as many (26 percent) don’t really plan when and how they will buy gifts.

The population survey in Latvia was conducted by Norstat on behalf of SEB Banka in November 2023, with 1,004 respondents aged 18-74.

Source: BNS

(Reproduction of BNS information in mass media and other websites without written consent of BNS is prohibited.)

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