Shoppers claim to save '£120 on average' by buying Christmas gifts at a specific time

Christmas shoppers who get a head start typically believe they save around £120 by making purchases before mid-December, according to a survey. However, the majority of UK adults (59%) who celebrate Christmas haven't even begun their festive shopping by mid-September – that's 100 days before Christmas – as per the research conducted for TopCashback.

The survey discovered that the majority (78%) of festive shoppers have already started making purchases when there is one month left until Christmas. Yet, one in six (16%) admitted that by the week before Christmas, they usually haven't done the majority of their Christmas shopping or haven't even started it.

The most popular time for those who celebrate Christmas to kick off their festive shopping is in late November (16 to 30), followed by early November (1 to 15), the research suggested. Around one in eight (13%) people said they shop throughout the year – with women (17%) being more likely to do this than men (9%).

The research suggested that early Christmas shoppers are driven by spreading the cost, taking advantage of discounts and preferring to be organised. Some said they do so to allow time for online deliveries to arrive.

Among those who leave their Christmas shopping till the last minute, time constraints, waiting to have the money available to spend and enjoying the festive spirit while shopping were among the reasons given.

According to a survey conducted by Opinium, two-fifths (40%) of Christmas shoppers fund their purchases from their disposable income or current account. Other popular payment methods include credit cards (18%), general savings (15%), and dedicated Christmas savings pots (13%).

Adam Bullock, UK director at TopCashback, said: "Whilst Christmas may be widely dubbed ‘the most wonderful time of the year’, this research surprisingly shows just a small group of people are preparing weeks in advance for the festivities.

"Whether that’s to make the most of available deals or simply be organised – but the majority of UK adults who celebrate are most likely to start their shopping in late November."

Meanwhile, Chris Henderson, save and pay director at Tesco Bank, said it is important that people celebrating Christmas do not feel pressured into overspending or overlook their day-to-day finances. He added that using budget trackers and apps may help people visualise how much money they may need to set aside ahead of time.

"Setting up a monthly transfer into a specified Christmas savings pot will help earmark money for the festive season, so you don’t spend it elsewhere," he said. "A good time to do this is right after you’ve been paid, by setting up a standing order on, or just after, payday. Putting aside little amounts on a frequent basis will help you save sensibly."

He also suggested using loyalty points and discounts offered by retailers to save some cash. To help avoid feeling under pressure, Mr Henderson added: "It may be worth having open conversations with family and friends about budget limitations or suggesting joint gifts or 'secret Santas' to reduce spending pressure.

"Ensuring you’ve got key items budgeted for early will help avoid last-minute or panic purchases when you’re shopping."