‘Seasonal scrimpers’ and ‘re-gifters’

1 in 10 has been caught ‘re-gifting’ – Equifax reveals money-saving habits of this year’s Christmas shoppers

The latest research* from Equifax, the credit information provider, reveals the steps being taken this Christmas to save money. 1 in 10 of those surveyed admitted that they have been caught ‘re-gifting’ and 15% won’t be sending any cards this year in a bid to economise.

Key findings from the research reveal the habits of ‘seasonal scrimpers’:

  • 10% of people have been caught re-gifting
  • 15% are cutting back on costs by not sending any cards
  • 28% plan to use last year’s wrapping paper
  • Just under a quarter (24%) cut out old cards to make gift tags
  • Nearly a third (30%) say handkerchiefs are the most disappointing gift to unwrap at Christmas
  • 1 in 5 (21%) women do not like to receive toiletries as gifts
  • Over a quarter of men (26%) say socks are their least favourite gift

Andrew Webb, Head of Equifax Personal Solutions, believes the new research reveals the sometimes hidden actions and opinions that shoppers have over the festive period.

“Christmas is a time of year that many people work very hard to save for, so it is very interesting to get a glimpse of Brits’ habits around the festive season. It seems we are a nation of ‘seasonal scrimpers’ with 15% not sending any cards, 28% using last year’s wrapping paper and just under a quarter cutting out their old cards to make gift tags.

“And although many people have various ways that they are looking to cut back on their Christmas spending, over a third (37%) would not be happy if they were given homemade gifts.”

The Equifax research also revealed that, if faced with having to cut back on present giving, 17% would take off their partner first, followed by their pets (13%.)

“Whatever way individuals look to save their money this Christmas, it is a good idea to keep an eye on how much you have spent” concluded Andrew Webb. “This not only makes the festive season more manageable but avoids a financial hangover in the New Year.”

The Equifax Credit Report is accessible for 30 days free simply by logging onto www.equifax.co.uk/Products/credit/credit-report.html. If customers do not cancel before the end of the 30 Day Free Trial, the service will continue at £9.95 per month, giving them unlimited online access to their credit information and weekly alerts on any changes to their credit file. It also includes an online dispute facility to help them correct any errors on their credit file simply and quickly.

ENDS

For further press information, please contact: Clare Watson, Cecile Stearn, Parm Heer or Wendy Harrison at HSL on 020 8977 9132 / Fax: 020 8977 5200 or email: equifaxbtocteam@harrisonsadler.com

About Equifax

Equifax is a global leader in consumer, commercial and workforce information solutions that provide businesses of all sizes and consumers with insight and information they can trust. Equifax organizes and assimilates data on more than 600 million consumers and 81 million businesses worldwide. The company’s significant investments in differentiated data, its expertise in advanced analytics to explore and develop new multi-source data solutions, and its leading-edge proprietary technology enable it to create and deliver unparalleled customized insights that enrich both the performance of businesses and the lives of consumers.

Headquartered in Atlanta, Equifax operates or has investments in 19 countries and is a member of Standard & Poor's (S&P) 500® Index. Its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. In 2013, Equifax was named a Bloomberg BusinessWeek Top 50 company, was #3 in Fortune's Most Admired list in its category, and was named to InfoWeek 500 as well as the FinTech 100. For more information, please visit www.equifax.com.

Equifax Limited is authorised and regulated by the Financial Conduct Authority.

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