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Tue 19 Dec 2017 10:48 AM

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UAE residents ill-prepared for holiday shopping, survey finds

A recent Yallacompare poll surveyed 900 residents and found less than nine percent began holiday shopping in November or earlier

UAE residents ill-prepared for holiday shopping, survey finds

Only 26 percent of respondents to a Yallacompare survey revealed they will be strict with holiday shopping budgets. The majority of UAE respondents said they only have a rough idea about how much to spend, with over 6.5 percent saying they have no budget at all and will spend what they need to.

Comparison site Yallacompare’s findings coincide with over 34.7 percent of respondents saying they leave their holiday shopping to just two weeks before Christmas.

“With almost 40% of respondents buying gifts for six to 10 people, these results suggest that UAE residents could save money by taking a more proactive approach to budgeting for the holiday season. Our survey found that, of those who buy gifts for up to 10 people, more than 20% spend over AED 300 on each gift.” said Jonathan Rawling, CFO of yallacompare.

Taken in November 2017, the survey of over 900 UAE residents found that 57.1 percent would set aside a budget for holiday shopping but prioritise bills and other payments above spending for the holiday season.

Only 8.8 percent of UAE residents begin Christmas shopping in November or earlier.

“While it’s certainly reassuring to see that the majority of UAE residents ensure bills are paid ahead of spending for the Christmas period, a lot of money could be saved by taking advantage of the pre-season sales that occur in November,” said Rawling.

Just under half of respondents said that they would use a credit card for all purchases over Christmas. However, 60 percent of these respondents said that they would pay off any outstanding credit card bills ahead of the new year

The vast majority said gifts constituted most of their Christmas spending, with 83.9 percent of survey respondents saying that they do their Christmas shopping in physical retail outlets, rather than online.

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