Half of Romanians' holiday budget (51%) is allocated to food, a study by Reveal Marketing Research on the consumption behavior during the 2020 holiday season showed. 

According to the respondents' answers, out of an average 2020 holiday budget of RON 1,059 (EUR 217), RON 539 (EUR 11) go on food, RON 395 (EUR 81) on gifts, and RON 125 (EUR 25.6) on decorations.

The biggest spenders are families (RON 1,284/ EUR 263) and young professionals (RON 1,116/ EUR 229), while seniors and single millennials spend less- RON 765/ EUR 157 and RON 987/ EUR 205 respectively.

Families followed by single adults spend the most on food, allocating RON 588 (EUR 122.5) and RON 586 (EUR 122) respectively. 

When it comes to Christmas gifts, the biggest spenders are families, who allocate RON 562 (EUR 117), followed by young professionals who spend RON 423 (EUR 88) on average for Christmas gifts. Retired seniors and single millennials set aside RON 282 (EUR 58.7) and RON 272 (EUR 56.6) respectively for gifts, the survey showed. Men spend more on gifts than women. In the case of men, the expenses on gifts amount to RON 433 (EUR 90), compared to women who allocate RON 364 (EUR 75.8).

Only 12% of the holiday budget goes on decorations. In 2019, RON 137 (EUR 28.5) went on decorations, and currently, the respondents are willing to allocate RON 125 (EUR 26). 

At the same time, 69% of the respondents said they buy the Christmas gifts from brick-and-mortar stores, down from 2016, when 88% purchased from such venues. This year, young professionals are those who have favored this option – 81%. Meanwhile, 50% of retired seniors say they prefer to buy from brick-and-mortar stores, and half place online orders this year.

The survey was done using the CAWI (Computer Assisted Web Interview) method, with 1017 online interviews conducted with respondents older than 18, on a nationally representative urban and rural sample, between December 7 and December 12 of this year. The sampling error is +/- 3%. More on the study here.

Meanwhile, the 2020 edition of the European Consumer Payment Report showed six out of ten Romanians will spend less this year on Christmas presents. The European average stands at 47%.

At the same time, 64% of those surveyed said they would buy mainly presents made in Romania. At a European level, the countries that most favor domestic consumption are Portugal (76%), Spain (74%), and Greece (71%), the study showed. 

The report also revealed the influence of social media networks such as Facebook and Instagram on sustainable consumption, with 41% of the Romanian consumers surveyed choosing sustainable products after getting information from their reference social group. The European average is of 35%.

The European Consumer Payment Report is based on data from the answers of 24,198 consumers in 24 European countries. The 24 countries are Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Great Britain, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Netherlands, Norway, Poland, Portugal, Romania, Slovenia, Spain, Sweden, and Switzerland. Locally, 1,000 people were interviewed. The full report is available here.

(Photo: Gabriel Petrescu | Dreamstime.com)

editor@romania-insider.com