The festive financial shift
The festive season is officially here. But while the Christmas period has long been associated with family gatherings and indulgent meals, these notions are gradually shifting. According to Statista, 20% of Americans planned to spend Thanksgiving 2023 with friends, while UK-based research has found that seven in ten consumers are ‘bored of the same old festive traditions’, leading many Gen Yers to reject conventional Christmas decorations. Several factors, including the cost of living crisis and polarisation, are bringing about this sense of change. Indeed, research from The Harris Poll has found that young Americans are opting to ditch family gatherings altogether due to feelings of dread about potential political arguments, while over one-third (34%) of Britons plan to spend less on food and drink for Christmas 2023 than a year ago.
As festive plans and spending are reconsidered, well-thought-out offerings enabling people to form their own traditions on a budget are increasingly important. Aldi Australia’s ‘Go Big On The Little Things’ ad spotlights the brand’s extensive range of affordable and seasonal side dishes ahead of Christmas dinner prep – tapping into desires for indulgence and treats within a budget. JD Sports Christmas campaign ditched the aspirational quality of traditional holiday ads, using its iconic duffel bag as an anchor to the reality of Christmas, which is about togetherness. With festive visions evolving as people navigate difficult times, fresh social moments are emerging that brands can tap into – from what they’re willing to spend money on to who they want to spend it with.
