59% of Latvians say that they plan to spend up to EUR 150 on Christmas and New Year’s gifts this year. The SEB Bank conducted a survey on the matter and told the LETA News Agency about its results.
17% of the population plan to spend up to EUR 50 on gifts, and the same proportion is planning to spend between EUR 100 and EUR 150. 25% plan spending between EUR 50 and EUR 100, while another 14% told the surveyors that they hope to spend between EUR 150 and EUR 250.
Families with children and adolescents plan to spend the most on gifts. More than one-half of those in the 18-29 age group plan to spend more than EUR 100 on presents.
58% of respondents reported that they will spend about as much on gifts this year as last, thought nearly 20% said that they would spend less.
One in three respondents is saving up money in advance for holiday gifts. This is more true among women and young people under 29. 54% of respondents do not specifically save money for presents, this most often among those in the 40-49 age group.
When it comes to when and how gifts are bought, one-third of respondents – more often women and young people under 29, said that they look for gifts during sales or special promotions. Men were more likely to say that they would look for presents just a week or two before the holidays, while 28% of respondents said that they would postpone gift buying until the last two weeks before Christmas.
Around one in six respondents reported that they try to think about holiday gifts all year long, looking for potential gifts whenever they see something that is suitable. This was more common among elderly Latvians aged 60 or more.
Around 23% of respondents said that they usually buy gifts without any particular pre-planning. This was more often true among men among respondents aged 30 to 49.
The survey was conducted by Norstat on behalf of the SEB Bank in November 2024 with 1,033 respondents aged 18-74.
Source: BNS
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