Stingy thing Aussie shoppers are doing this Christmas
Exclusive: Cash-strapped Aussies say they will be spending less on Christmas gifts this year and will even wait until items go on sale before snapping them up.
With less than three weeks to go until Christmas, 40 per cent of shoppers said they will be waiting for discounts, while two in five said they have taken a financial hit because of COVID-19 and are concerned about how they will pay for gifts.
Independent research compiled by Gumtree quizzed 1300 Australians and found they plan to spend $680 on presents, while collectively we Aussies are expected to spend $9.9 billion on presents.
The study found women to be the more generous sex - buying an average of seven presents each compared to men with five.
Gift vouchers, electronics, clothing and accessories, experiences and books will be among the most popular gifts.
Friends Chanelle Murray, 26, Kristyn DeZilwa, 27, are yet to complete their Christmas shopping but they will be more frugal than ever.
"I'm a saver, so I always try and have a budget per person and I try and encourage Kris Kringle," Ms Murray said.
"When it comes to presents I am thinking what can I give that will create memories and moments rather than accumulate more stuff."
Ms Murray said she's budgeting about $600 in total and has managed to snap up many good deals in the Black Friday sales.
Tribeca Financial chief executive officer Ryan Watson said shoppers should set a "present budget" for each person and stick to it.
"With the relevant uncertainties that come with a COVID world it makes sense to rein in your spending this Christmas," Mr Watson said.
"Being more discerning about who you buy gifts for makes a lot of sense."
Gumtree spokeswoman Eleni Gavalas said a lot of Australians are more cost conscious than ever and being careful about what they buy.
"It's important to be savvy with what you are spending your money on," she said.
"It's all about doing your research and being prepared in terms of what you are looking for at Christmas and looking online to find the best prices."
She said the festive season is one of their busiest times of year with people looking at the second-hand economy to find goods that are brand new and unwanted or unique gifts.
The research also found many Australians are happy to go without a present - 13 per cent say they don't want any gifts this year.
It also showed 28 per cent have been buying gifts throughout the year and 31 per cent won't be giving as many gifts.
Originally published as Stingy thing Aussie shoppers are doing this Christmas