BRITONS are set to spend £1 billion less on Christmas presents this year because of the economic downturn, but Scots are still likely to be among the biggest spenders.
The average person plans to spend just £376 on gifts, down from £393 in 2007, according to a survey by the website moneysupermarket.com.
Women look set to spend more than men on presents for friends and family, at an estimated £392, compared wit
h £359 by men.
But both sexes are expected to spend less than last year.
Rob Barnes, the head of shopping at moneysupermarket.com, said: "Consumers are feeling the pinch this year. Presents will still be bought but it may be a gift list without the usual trimmings.
"People will be looking for bargains, and shopping around for the best deals will be a key feature of this Christmas. Retailers must ensure their prices are as competitive as possible."
Consumers in Scotland expect to spend the most on Christmas, at an average of £460 each, while those in the south-west of England will spend the least at £301.
Alvin Hall, a personal finance adviser and television presenter, said Christmas was a time when consumers were tempted to spend money they didn't have.
His tips to avoid financial worries in the run-up to Christmas include:
• Making a gift list and sticking to a maximum spend on each.
• Doing the same with food and wine.
• Pooling money with family and friends to buy expensive gifts.
The full article contains 258 words and appears in The Scotsman newspaper.
