Towards a meager Christmas. This is the forecast made by Confesercenti-Swg, which questioned Italians on the propensity to consume in the next two months and asks the new government for an extraordinary tax relief on the thirteenth: an intervention that would boost consumption and confidence.
In fact, just over two thirds (68%) decided to reduce purchases in view of Christmas due to higher bills and the increases brought about by inflation. A climate that leads to a deterioration in sentiment towards the upcoming holidays. 60% expect a worse Christmas than in 2021 with fewer gifts and travel. At risk there are about 5 billion of consumption. These are Confesercenti’s estimates, based on a survey conducted together with Swg on a sample of consumers between 18 and 65 years of age. The crisis brought about by the current situation leads to a heavy spending review that has already begun.
39% of Italians have decided to cut superfluous expenses, and 29% will be forced to file down all expenditure items. Budget unchanged for just 19% and only 5% plan to increase expenses, consumption. These are the direct consequences of the high bills, according to 24% of the respondents, and of the price increase campaign (38%) whose consequences impact on the economic and working conditions seen worsening, the climate of uncertainty. Then there is an 8% who will spend less because it has already affected the family savings. With these perspectives we look at Christmas which is expected to be thin.
In fact, 60% of families believe that the economic and social conditions of the upcoming holidays will be worse than those of last year, and almost half of the interviewees (49%) plan to cut gifts as well: 25% plan to spend between 10 and 30% less for gifts, while 24% will bring the reduction beyond this threshold.
Only 4% will increase spending on surprises under the tree, compared with 36% who will try to keep it unchanged. Even the holidays of the holidays are reduced: 69% have already decided that they will not leave, while only 10% believe that they will still take a trip, compared to 21% still uncertain. Those who leave, however, reduce their spending: the expected one is 492 euros, almost 200 euros less than the 683 euros in 2019.