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Christmas 2023: Gift Boom and Consumption Growth, Confcommercio Optimistic

Christmas is approaching, and despite the shadow of inflation, Italian consumption seems destined to grow. Confesercenti and Ipsos reveal a 13% increase in spending on Christmas gifts, with Italians ready to spend an average of 223 euros, 13% more than the previous year. The situation, however, shows a polarization between those who can afford to spend more and those who cannot, with the web playing a crucial role in purchasing decisions.

Christmas 2023: Consumption on the Rise and Richer Thirteenths

According to the Studies Office of Confcommercio, the total of thirteenths will exceed 50 billion euros, making Christmas 2023 richer than the previous year. The expected expenditure for gifts on December 24th will reach 8 billion euros, a significant increase compared to the 7 billion in 2022. Thirteenths, on average, will turn into 1,882 euros of consumption per family, surpassing the 1,598 euros in 2022.

Christmas 2023: Gift Choices and Consumption Trends

While traditional categories like clothing, fashion accessories, food, and toys dominate the list of Christmas purchases, there is a noticeable trend towards household cleaning devices equipped with artificial intelligence. Robotic vacuum cleaners and floor scrubbers are set to conquer the market, along with perfumes, furniture, sofas, books, jewelry, and appliances.

Online Shopping Boom and Record Black Friday

November saw a 7% increase in purchase volumes during the period of super sales, with a total spending of 4.31 billion euros. The online channel contributed significantly, with 2.41 billion euros spent online. The Black Week attracted twenty million Italians, demonstrating a robust propensity for consumption and confirming confidence in the market.

Rising Average Spending and Optimism for the Future

Confcommercio predicts an average spending of 186 euros per person for Christmas gifts, with over 73.2% of Italians intending to give gifts. Despite 27.3% of Italians avoiding gifts to save money, the overall panorama is positive. The growth of employment, the reduction of the tax and contribution wedge, along with the slowdown in inflation, fuel optimism for Christmas consumption.

Economic Perspectives and GDP Growth

The economic maneuver supporting incomes has contributed to the improvement of the economic situation. Confcommercio estimates that 43 million Italians will spend 8 billion euros on gifts, bringing per capita spending to 186 euros, an increase of 21 euros compared to 2022. Employment growth and the reduction of the tax wedge play a key role in this positive scenario.

In a European context of economic uncertainty, Italy seems to navigate successfully, with a GDP that surpasses pre-pandemic levels. Despite challenges, the Director of the Studies Office at Confcommercio, Mariano Bella, emphasizes that Italy arrives at this crucial moment in excellent health.

Optimistic Conclusions for a Richer Christmas 2023

Christmas 2023 looks set to be a period of growing consumption, with richer gifts and higher average spending. More substantial thirteenths and confidence in the economic future indicate a positive trend that will be reflected in the consumption of Italian families. With the boom in online purchases and the strength of the market, Christmas could indeed be richer for everyone.

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