This morning, the Irish League of Credit Unions has come up with the results of its new survey, which say that consumers would this year spend less on Christmas as compared to last year.
It is being said by the group that only Irish adults are expected to spend above €500 before anyone could take down the tree. They will spend €527 on Christmas on an average. However in the year 2011, the spending by them was noted at €562.
As per the findings, 58% of all Irish adults have claimed that the festival is going to be enjoyable. On the other hand, eight in every 10 Irish adults have been found feeling bad and gloomy about their financial situation in the current year.
Further, the impact of recession in the North Pole was also examined by the researchers. The same has hinted that Santa Claus would this year spend €170 on an average on presents for Irish children. At the same time, almost 56% of consumers are being hoped to face a deficit in spending on Christmas.
"People needed to remember that Christmas really is about giving . . . not robbing the family finances", said the credit union league's Mandy Johnston.