Online discount toy retailer Bargain Max have conducted a nationwide survey of 2573 parents revealing only 11% are planning to buy Christmas toy gifts outright with the majority turning to alternative payment methods to facilitate buying this years’ presents.
With COVID-19 bringing footfall levels down across the UK, the majority (90%) of parents plan to buy toys (Christmas gifts) online this year. Just 6% of those surveyed plan to buy in-store.
The Manchester-based retailer looked into surveying parents and discovered the average spend on toys last year was £111.00 per family. This year, the average expected spend on toys is £102.53 per family, a slight decrease of £8.47 per family (7.6%), showing that COVID is impacting Christmas spending, but not as much as expected.
Only 11.34% will pay outright (by cash or debit card) with the remaining 88.66% using some form of delayed or alternative payment method. Looking into the data, PayPal will be the most popular payment method (38%) followed by credit card (31%). 1.6% admitted they will heavily rely on split payment providers (such as Klarna) this year.
A spokesperson for Bargain Max commented:
“We are fortunate to be in a position where we trade online as Coronavirus has had a massive impact on stores across the country.
Obviously, a large percentage of consumers look to plan to shop and spend online this year for their Christmas presents and we’ll be planning ahead as much as possible to work with couriers in what is expected to be our busiest year to date.”
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