Nearly 17.2 million people have left their Christmas shopping until the last minute and will be hitting the shops on Christmas Eve, according to new research(1) from Sainsbury’s Bank Credit Cards.
The findings(1) indicate that 36.3% of adults expect to still be doing some of their Christmas shopping on Christmas Eve. Those people who know how much they will spend anticipate spending around £1.3 billion between them on last minute purchases, equivalent to almost £55 million per hour. An additional 2.3 million people (6%) don’t know what they will spend, so the total spend could be much higher.
Year-on-year, last minute Christmas shopping is set to increase from £1 billion to £1.3 billion on Christmas Eve. In addition, shoppers expect to spend £9.85 billion in the week before Christmas this year, a 4.8% increase on the £9.4 billion expected spend in the week leading up to Christmas 2011.(4)
In the run up to Christmas this year, millions of people say they are trying to reduce their Christmas spending through a variety of measures. Nearly four in 10 people (39%) are using vouchers or coupons to buy food and gifts, and over one in four (26%) are collecting points on all of their Christmas shopping. Some 26% will purchase gifts using points they have collected from a loyalty or reward scheme, and a further 23% will buy Christmas food or drink using points they have amassed.
Stuart McKeggie, Head of Sainsbury’s Credit Cards said: “Our research indicates that Christmas Eve shopping continues to be as popular as ever, with millions of people still looking to pick up the perfect gifts right up until the last minute. Our research also suggests that more money will be spent on Christmas Eve in comparison to last year.
“For those shoppers who buy regularly from retailers that offer a loyalty scheme, or have a credit card that offers cashback or reward points, it could be worthwhile taking advantage of this while doing the Christmas shop and redeeming the rewards at a later date. For example, the Sainsbury’s Nectar Credit Card offers up to five times the number of points usually earned in-store at Sainsbury’s for the first three months – this is equivalent to up to 5% back on your Sainsbury’s shopping(2).”
All Sainsbury’s supermarkets will open an hour earlier than usual this Sunday to allow time for customers to browse, and 35 supermarkets will open at midnight on Christmas Eve, and trade until 6pm.
One in 12 people (8%) are getting creative and making personalised or hand-made gifts, and 13% intend to buy Christmas gifts in the post-Christmas sales to save money. Interestingly, men are almost three times more likely not to budget for Christmas spending (16% compared with 6% of women).
The supermarket bank’s research also indicates that around 36.1% of last-minute spending conducted in the week before Christmas would be placed on credit cards, an increase since 2011, when this figure was 31%.
The Sainsbury’s Nectar Credit Card is the bank’s most rewarding Nectar-based credit card to date. For the first three months from the account opening, shoppers using their card in-store at Sainsbury’s (and swiping their Nectar card at the till) will earn up to five times the number of points normally earned (10 points earned per £1 spent, maximum monthly spend is £1,000). This is the equivalent of up to 5% back on a customer’s shopping at Sainsbury’s. Post-introductory period, Sainsbury’s shoppers using their Sainsbury’s Nectar Credit Card and swiping their Nectar card at the till could earn the equivalent of up to 2% back on their shopping (four points earned per £1 spent).(2)
The Sainsbury’s Cashback Credit Card offers 5% cashback on purchases made at Sainsbury’s for the first three months (up to a maximum of £1,000 spend per month) plus cardholders could also receive £5 cashback each month when they spend at least £250 at Sainsbury’s and £250 elsewhere. Post-introductory period, the ongoing reward for cardholders is £5 cashback each month when they spend at least £250 at Sainsbury’s and at least £250 at other outlets.(3)
Nectar points awarded differ on Sainsbury’s fuel.
For information on Sainsbury’s Bank credit cards call 0800 030 4429 or log onto www.sainsburysbank.co.uk or pick up a leaflet in-store at Sainsbury’s. Customers applying for a Sainsbury’s card should have their Nectar card ready when they apply.
For further information, please contact:
Charlotte Pascal / Ewan Robertson
Citigate Dewe Rogerson
020 7282 1021 / 2981
Notes to editors:
(1) Sainsbury’s Bank commissioned ICM on behalf of its credit cards division. ICM interviewed a random sample of 2,000+ adults aged 18+. The interviews were conducted via an online omnibus survey between 7th and 9th December 2012. Surveys were conducted across Great Britain and the results have been weighted to the profile of all adults 18+. ICM is a member of the British Polling Council and abides by its rules.
(2) During the introductory reward period, customers using their Sainsbury’s Nectar Credit Card in-store at Sainsbury’s earn 8 points per £1 spent (for the first 3 months from account opening) and 2 Nectar points per £1 spent when swiping their Nectar card at the till. Therefore, the combined introductory reward is 10 points earned per £1 spent (capped at £1,000 spend per month); this is the equivalent to 5% back on Sainsbury’s shopping. During the post-introductory period, customers using their Sainsbury’s Nectar Credit Card in-store at Sainsbury’s earn 2 points per £1 spent and 2 Nectar points per £1 spent when swiping their Nectar card at the till. Therefore, the combined post-introductory reward is 4 points earned per £1 spent; this is equivalent to 2% back on Sainsbury’s shopping. Points are not available on a limited range of Sainsbury’s goods and services. Purchase rate is 17.95% p.a. variable, with a representative 17.9% APR variable based on borrowing £1,200 and repaying over 12 months. At least 51% of customers are offered our best and representative rate of 17.9% APR (variable). Points differ on Sainsbury’s fuel. Points are not available on a limited range of Sainsbury’s goods and services. All cash advance transactions including foreign currency purchases, are not eligible for points. Nectar points are awarded by Sainsbury’s Supermarkets Limited and Sainsbury’s Bank plc. Nectar points may take up to six weeks to appear on customers’ account. More information is available at sainsburysbank.co.uk.
(3) For each of the first three months from account opening, customers receive a rebate of 5% of the value of all purchases at Sainsbury’s (once any purchases refunded in the period have been deducted) on their account. Maximum spend is £1,000 per month. The rebates will be shown on the statement in the following month, up to a maximum of £50 per month. £5 monthly cashback is earned during any statement period in which a customer: a) makes at least £250 of purchases at Sainsbury’s (once any purchases refunded in that period have been deducted); and b) makes at least £250 of purchases elsewhere (once any purchases refunded in that period have been deducted). Cashback is credited to the customer’s account in the following statement period. Purchase rate is 17.95% p.a. variable, with a representative 17.9% APR variable based on borrowing £1,200 and repaying over 12 months. At least 51% of customers are offered our best and representative rate of 17.9% APR (variable).
(4) Sainsbury’s Bank commissioned ICM on behalf of its credit cards division. ICM interviewed a random sample of 2,000 adults aged 18+. The interviews were conducted via an online omnibus survey between 25th –27th November 2011. Surveys were conducted across Great Britain and the results have been weighted to the profile of all adults 18+. ICM is a member of the British Polling Council and abides by its rules.
To view our latest press releases and product information, please visit the Sainsbury’s Bank online media centre atwww.sainsburysbank.co.uk/media.
Sainsbury’s was the first major British supermarket to open a bank, commencing trading in February 1997. Benefiting from a fantastic, trusted brand that enables us to combine the shopping experience with personal finance, Sainsbury’s Bank provides a range of quality products including insurances, credit cards, savings and loans. Our proposition is to make shopping more rewarding by offering customers great products at fair prices, while consistently rewarding shoppers for their loyalty and being easy to do business with at all times. Our products consistently top Best Buy tables and regularly win awards for quality, price and service.
This year, Sainsbury’s Bank has been awarded ‘Best Term Assurance Provider Direct’ – Moneyfacts Investment Life & Pensions; ‘Best Personal Loan Provider’ – Consumer Moneyfacts; ‘Best Low Rate Credit Card Provider’ – Moneynet; ‘Best Credit Card for use abroad (Gold)’ – Moneynet; ‘Best Loan Provider’ – Moneysupermarket Supers; ‘Pet Insurance Intelligent Choice, Customer Satisfaction’ – Consumer Intelligence; ‘Best Personal Loan Provider’ – Moneyfacts; ‘Best Direct Personal Loan Provider’ – Your Money Direct; ‘Best Online Pet Insurance Provider’ – Your Money Direct; ‘Best Loans Rate’ – Moneynet.
Sainsbury’s Bank Plc is a joint venture between J.Sainsbury plc and Lloyds Banking Group.
Sainsbury’s Bank has its own banking licence, is separately regulated by the Financial Services Authority and has an independent membership to the Financial Services Compensation Scheme.
Sainsbury’s Bank plc is authorised and regulated by the Financial Services Authority (FSA) register number 184514, except for Credit Cards & Loans where it is licensed by the Office of Fair Trading (OFT) license no. 421 897.
For further information and general Sainsbury’s Bank enquiries customers can call the freephone number on 0500 40 50 60 or visit www.sainsburysbank.co.uk