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A new survey from TK Maxx reveals a majority of Londoners feel recent financial pressures have forced them to think more carefully about their gift buying decisions.
TK Maxx surveyed over 2,000 individuals across the UK to examine how the nation feels about giving and receiving gifts on landmark occasions – and if the cost-of-living crisis has made people be more selective with their purchasing.
As many individuals feel the burden of rising costs, 62% of respondents said financial pressures have forced them to think more carefully about their gift buying decisions – and only 7% said they’d given the financial landscape no consideration at all.
To combat this and find better deals, many shoppers also are going online to source deals and examine their options. In this, 46% of people said they prefer shopping online to find deals and discounts.
This financial burden varied across other UK cities, with individuals in Belfast (67%) and Norwich (66%) feeling the most amount of pressure to consider their financial decisions more cautiously – while shoppers in Plymouth felt the least at 36%.
As a nation that loves gifting, the survey further highlighted the occasions that Londoners value the most. The most important events for gift giving were birthdays (61%), Christmas (50%), and weddings (28%).
With gifting being an important part of many of our lives, over half (56%) of Londoners associate a special event in their life with a specific item they received – one of the highest scores in the country.
A quarter of those polled in London are also self-proclaimed gift-givers, showering their family members and friends with presents frequently. To add to this, a significant 46% of respondents are occasional gift-givers, proving that spreading joy and love isn’t just reserved for special occasions—it’s a frequent (or at least occasional) affair.