Italians to spend up to 9 bn euros for Xmas shopping

With Italians rushing to buy their last presents before the end-of-year holidays, consumers’ association Codacons and retailers’ confederation Confesercenti have estimated in two separate studies that they are expected to spend up to 9.5 billion euros in Christmas shopping.
In particular, Codacons said presents would cost a total of 9.5 billion euros while the survey carried out by the Ipsos polling institute for Confesercenti estimated a cost of 8.1 billion, with an average budget per person of about 225 euros to spend on presents for loved ones to put under the tree.
Overall, the festivities were estimated to cost a total of 25 billion euros, including travelling and food expenses.
“The climate of uncertainty is weighing on families and businesses, but Italians are not foregoing Christmas” celebrations, commented Confesercenti.
The retailers’ confederation estimated that, on average, Italian households will spend 992 euros for the upcoming festivities, including presents, food expenses, restaurant meals and travelling for a total of 25 billion euros.

Source: ANSA