K&H: young people spend an average of 49 thousand forints on Christmas gifts

The vast majority of young people continue to plan to buy gifts for their loved ones, with expected spending showing an increase, according to the K&H Youth Index for the fourth quarter. This is true for 84 percent of young people aged 19-29, which is consistent with the previous results of the survey, as the proportion of young people giving gifts was the same in 2018, 2021, 2022 and 2023. Gift givers are now looking to surprise fewer than 7 people on average, compared to 7 last year and 8 in 2022.

However, the amount spent on gifts is increasing. The average value jumped significantly in 2021, when it increased from 29 thousand to 39 thousand forints in 2020. There was a smaller decline in 2022, when the limit was 37 thousand forints. Last year, this amount was 40 thousand forints, and this year it increased to 49 thousand forints. According to the research, the median amount spent on gifts is 26 thousand forints this year, while a year earlier it was 25 thousand forints. The 20 percent increase in the average amount is partly due to the outliers, as the median only increased by 4 percent.

“The increase in average amounts can be partly explained by the increase in wages this year. At the same time, the moderate increase in the median value suggests that a large part of young people are still cautious and do not want or are unable to significantly increase their spending this year,”

Zoltán Rammacher, Marketing Manager of the K&H Retail Customer Segment, assessed the research data.