Brits will spend £26bn on Christmas presents and festivities this year, with one fifth of adults saying that they will spend extra to make up for missing out on a traditional holiday last year.
A new study from digital board game group Marmalade Game Studio found that the average Brit will spend £491 during the Christmas period, with around £390 of this being spent on presents.
Most people will buy gifts for an average of eight people, although one in five said that they would be wrapping gifts for 11 or more people this year.
Nearly six out of 10 (59 per cent) estimated they will be spending more this year than in 2020, while more than half (52 per cent) expect to spend more than Christmas 2019, before the Covid-19 pandemic hit.
“Many people are clearly determined to make up for lost time when compared with last Christmas and see this year as a chance to properly celebrate despite current nervousness around the pandemic,” said Michael Willis, co-chief executive at Marmalade Game Studio.
“Seeing family and friends is a major part of the festive season which most people missed last year due to restrictions around the country.
“In our business we saw a surge in demand for online games throughout the lockdowns which is continuing this year as people realise that games are a good way to stay in touch all year round and particularly so at Christmas.”
The survey – which was conducted before the recent Omicron surge – also found that more than half (53 per cent) of people planned to host family and friends during the festive season and nearly two thirds (64 per cent) intended to visit family and friends.