New research indicates that a significant number of Australians are experiencing heightened stress this Christmas due to ongoing cost of living pressures. Over the past three years, soaring inflation has increased the costs of essential items, including food, housing, and energy. According to a study commissioned by IGA, 87% of Australians are concerned about expenses during the festive season.
Financial Strain Influences Holiday Spending
IGA spokesperson Heather Howell revealed that 68% of Australians are actively seeking ways to reduce their grocery bills as the prices of electricity and fuel continue to rise. “Christmas is really just a continuation of that and really looking at what you can cut back,” Howell stated. She emphasized that it is possible to enjoy the festive season without overspending. “You can have bougie on a budget; it’s just about shopping smarter,” she added.
Howell noted that many shoppers are opting for home brands to manage household expenses effectively. By choosing generic products for staples like flour and sugar, consumers can save significantly while still preparing traditional festive dishes. “There isn’t any real reason to buy more expensive products for those sorts of things when you’re baking,” she explained.
Smart Shopping Strategies for the Holidays
In addition to switching to more affordable brands, Australians are employing various strategies to stretch their holiday budgets. Howell mentioned that many are comparing prices across different supermarkets and planning Christmas menus early to avoid last-minute overspending. “Coming together is really important. People are making smarter choices to help keep costs down without losing the joy of the festive season,” she said.
One popular tactic involves buying ingredients that can be used in multiple dishes, which not only saves money but also reduces preparation time. Shoppers are increasingly purchasing ready-made items, such as frozen cheesecakes or pavlova bases, to simplify their holiday planning. “It’s about spending less but also spending less time baking,” Howell noted.
As Australians navigate the challenges of the festive season, the focus on financial prudence remains strong. With many feeling the impact of the past three years of economic pressure, the emphasis on smart shopping and budgeting is likely to shape holiday celebrations across the country. Howell concluded, “You don’t have to spend the earth to have an amazing Christmas.”
