Magyar Bankholding: Most people choose contactless payment when shopping for Christmas

By: Trademagazin Date: 2022. 12. 12. 10:53

The 27-35-year-old age group is the most purposeful in terms of Christmas shopping, according to representative market research conducted by Magyar Bankholding. This year, respondents plan to spend between HUF 20,000 and 30,000 on Christmas presents, and more than a third of the population already started preparing financially for the holidays in the months before Christmas. Younger respondents plan to use most of their credit card limit to buy gifts, and mainly buy perfumes, smartphones and clothes on credit.

The shopping process starts a month before Christmas

80 percent of Hungarians plan in advance how much they will buy, but more than 50 percent overspend during the festive period, according to representative research by Magyar Bankholding. The aim of the annual survey, involving more than 500 participants, is to learn about people’s gift-giving habits and how they finance the purchase of gifts.

The opinion of those filling in has not changed compared to last year regarding how many gifts they want to buy for their loved ones, so they continue to plan with seven gifts. Depending on the age of the respondents, which family members they want to surprise varies. Most people buy between HUF 20,000 and HUF 30,000 this year.