Asian Christmas gift-giving trends revealed
When it comes to Asian Christmas gift-giving, Koreans are the most generous, according to a Kadence Singapore survey.
The company spoke to a cross-section of shoppers in Hong Kong, Japan, Korea, Malaysia and Singapore to understand more about their Christmas buying habits.
Koreans emerged as the most generous, with 88 per cent saying they will give someone a present this year. Of these, 63 per cent are buying a gift for their partner, with 33 per cent buying for a parent.
In contrast, Japan is far more conservative, with 75 per cent shopping for Christmas. Of these, 13 per cent are considering buying a present for their parents.
People in a relationship are far more likely to receive a gift this year, the survey shows. Of the people surveyed, 53 per cent will buy a gift for their partner. This is followed by presents for a parent or another family member (both 25 per cent). However, 21 per cent of the people surveyed do not intend to buy any presents this Christmas.
A surprising find is that men (80 per cent) are more likely to buy a Christmas gift than women (77 per cent), a trend across all markets. Hong Kong men lead the field at 83 per cent, versus 70 per cent women.
Men are more focussed on their partner, with 60 per cent buying a gift for their nearest and dearest, while only 46 per cent of women are doing the same. However, women are more willing to share the Christmas spirit, with 24 per cent likely to buy presents for friends and 18 per cent for siblings (for men the figures are 15 and 8 per cent respectively).
In general, survey respondents have three extended family members in mind when Christmas shopping, beyond parents, siblings and partners. They also have up to five key friends and colleagues they will buy for. Women are likely to buy more presents for their friends and colleagues, with 33 per cent looking to buy five or more presents for colleagues versus about 12 per cent for men.
When it comes to expenditure, partners are the main consideration. In Singapore, 73 per cent of respondents will spend SG$100 (US$70) or more on their partner. In contrast, 71 per cent will spend less than SG$100 on friends while 69 per cent will spend less than SG$50 on colleagues.
In Singapore, 48 per cent of men interviewed say they will spend more than SG$200, compared to 28 per cent of women, who are more likely to spread their spending on friends, colleagues and other family members.