Young people most stressed about spending family time this Christmas
The prospect of a family Christmas is proving to be far from joyous for Britain’s young consumers, as the latest research from Mintel finds almost six in ten (58%) 16-24-year-olds say spending time with their family over the festive period is stressful — considerably higher than the national average of 42%. stress declines rapidly with age as just 18% of consumers aged 65 and over anticipate family time this Christmas will be stressful.
Meanwhile, the nation’s children are set to be winners this Christmas, as almost a quarter (23%) of parents plan to spend more on toys/games this year, compared to (18%) in 2023.
Mintel sales predictions
Mintel forecasts retail sales by value in November and December (both for in-store and online on food and non-food) to hit £95.4 billion. This represents an increase of 1.4% compared to last November and December when sales reached £94.1 billion. Retailers face tougher comparative figures this year compared to 2023, when inflation was higher. However, we expect slightly stronger volume growth, with total sales by volume estimated to grow 1.6% compared to a -2.0% decline in 2023, helped by stronger spending intention from select consumer groups (particularly high earners) for the festive period.
Nick Carroll, Category Director of Mintel Retail Insights, said:
“Spending time with loved ones is at the heart of festive celebrations, but the reality is that for many, extended periods with family can also create stressful situations. Brands can lean into these potentially tension-inducing family celebrations by offering escapism, especially for younger consumers. Ensuring younger shoppers can still express their individuality during party season is important, and brands can lean into the energy of 2024, as Converse and Charli XcX’s Christmas campaign clearly does. While there’s no escape for those hosting Christmas, brands can be inspired by Ninja Kitchen’s campaign featuring David Beckham, which highlights products that make hosting easier. Wellbeing-related gifting, or self-gifting, will be a key trend this year to help individuals enjoy some 'me-time'.
“Confidence has been shaky in 2024, with the wounds of the cost of living crisis still healing for most, and the signals for short-term prospects of the UK economy and standard of living at best mixed. However, the festive period is typically when consumers look to shrug off any negativity of the preceding year and ultimately let off some steam. In 2023, the financial pressure was too much to ignore and spending suffered, but the signs are that there will be a little more scope to cut loose in 2024.
“In 'essential' areas such as food and drink and children's gifting, the indications are that a broader church of shoppers will look to, as much as they can, indulge a little more. This will most directly benefit the grocers, but in gifting there will be far more opportunity for premium products and retailers.”
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