Festive frugality: a fifth of shoppers turn to resale sites to cut Christmas costs

Paragon Bank‘s research of over a thousand savers reveals that a fifth of shoppers are turning to resale sites to reduce the cost of Christmas, with almost a quarter of shoppers admitting to spending an average of £534 on presents alone.

As the festive season approaches, new research from Paragon Bank reveals that one in five people (20%) are turning to resale platforms such as eBay, Vinted and Depop to buy Christmas presents, driven by a desire to save money, shop sustainably and find unique gifts.

Among those embracing resale platforms, eBay leads the pack, with eight in 10 (80%) users saying they would buy gifts from the site, followed by two-fifths opting for Vinted (41%) and a quarter using Facebook Marketplace (25%). The motivations are clear: with almost half of respondents citing saving money (46%), valuing sustainability (46%) and looking for unique or vintage items (46%), respectively.

The findings come as households continue to feel the pinch, with the average spend on Christmas presents coming to £534, with shoppers admitting they spend approximately £75 on each person. Festive food bills further inflate the cost of Christmas, with over a fifth (22%) spending between £75 and £149 on their turkey dinner and all the trimmings.

Despite the high cost, three-quarters of people (73%) said they don’t save specifically for Christmas, and almost half (47%) admitted they don’t set a budget at all. Just under a third (30%) set a rough budget but often exceed it.

Yet, the emotional toll of festive spending is evident – a third (32%) of respondents said they would prefer a simpler, less expensive Christmas if it meant less stress. Notably, almost a quarter (23%) have changed their Christmas spending habits in recent years, opting to spend less overall.

The research also shows that many consumers are reconsidering the value of some of the gifts they receive over Christmas, raising the question of whether Christmas needs to come with such a hefty price tag. Surprisingly, 15% of respondents admitted to reselling gifts after receiving them, with over a third (37%) doing so because they didn’t want or need the item, and more than a fifth (22%) doing so to reduce clutter.

Andrew Wright, Head of Savings at Paragon Bank, said: 

“We’re seeing people turning to resale platforms not just out of necessity, but as a conscious choice. These platforms offer a practical way to stretch budgets further, especially at a time when nearly half of savers admit they don’t set a budget, and many are feeling the pressure of rising festive costs. It’s also a sustainable way to shop, as well as finding some rare or unique items.”

He added:

“We would encourage savers to prioritise budgeting for big events like Christmas earlier in the year and look for ways they earn more interest on their savings, so when it does get to the festive period, they’re not left feeling overwhelmed by the cost of Christmas. Setting a spending goal earlier in the year and saving towards that is one way of feeling more in control.”