The Grinch who stole Weihnachten
Will the Grinch steal Christmas this year? According to a survey published by Stern magazine on Wednesday, Germans are planning on spending less on gifts because of the global financial crisis and the fear of recession.
About a third of Germans will find smaller presents underneath the tree, as 32 percent of those asked said they will spend less this year. However, a solid majority of 56 percent had no plans to change their buying habits. And seven percent said they were even considering digging a little deeper into their pockets to get their loved ones something nice for the holidays.
Asked about their Christmas budgets, 30 percent of Germans said they will spend between €200 and €500 for presents, 29 percent will splash out up to €200, and around 18 percent won’t spend more than €100. At the two extremes, eight percent said they could only spend a maximum of €50 and 11 percent will splurge with more than €500 for gifts this year.
Pollster Forsa surveyed 1,003 people for Stern for the survey on November 12 and 13.