Dutch consumers plan to cut back on Christmas gifts amid economic strain: survey
As the festive season nears, recent research by consultancy firm Accenture reveals that Dutch consumers are modifying their shopping habits due to prevailing economic challenges.
The 17th edition of Accenture's annual Holiday Shopping Survey reveals that Dutch consumers are reducing their holiday spending: 56 percent are spending less on gifts for friends and family, and 68 percent are cutting back on gifts for acquaintances. Over half of the respondents plan not to give gifts to other adults this year.
To save money, 64 percent are reusing decorations, 44 percent are choosing home brands, 28 percent are buying second-hand items, and 39 percent prefer reusable products over new ones.
"Our research shows that the Dutch are adapting with what I call “creative pragmatism.” Consumers are not only cutting back but also seeking inventive ways to extract more value from their purchases,” explained Nicole van Det, CEO and Senior Managing Director of Accenture Netherlands.
The survey shows that only 22 percent of Dutch people feel optimistic about their finances this holiday season, planning to spend an average of 341 euros. This contrasts with higher spending in France and Italy, averaging 528 and 445 euros, respectively. In the Netherlands, younger generations, specifically Gen Z and young millennials, plan to spend more, averaging 420 and 416 euros.
According to Patritia Pahladsingh, CEO and Managing Director of Accenture Song Netherlands, retailers should respond flexibly to this trend. “The financial pressure on consumers is clearly palpable. Clear information about matters such as return policy and product availability can make a difference and contribute to long-term customer loyalty," she said.
The survey also indicates that price (76 percent) and value for money (64 percent) are key purchasing factors for consumers. Furthermore, half of the respondents are focusing on buying sustainable items that hold value beyond the festive season.
Accenture's annual Holiday Shopping Survey involved 5,533 participants from the United States, Canada, the United Kingdom, France, Germany, Spain, Italy, Sweden, and the Netherlands. It included a representative group of 503 Dutch individuals distributed across various genders and age groups.
