New research* has revealed the British public are taking it upon themselves to get the things they really want by self-gifting.
Research commissioned by Barclaycard shows that over half of us (58%) believe it's the thought that counts when receiving a gift but one in six (16%) would rather have chosen the gift themselves. Almost half of Brits (43%) have indulged in self-gifting around Christmas or birthdays at one time or another while one in ten (10%) say they always do.
The most popular reason for the new trend is simply people wanting to 'treat themselves' (44%) as it seems family and friends aren't as good at present buying as many would like with almost a quarter (23%) admitting they indulge in self-gifting because 'it's the most sensible way to get what they want'. Even more surprising is that this rise in self-gifting comes at a time when almost a quarter of families (23%) are planning to reduce the amount they spend on gifts this year due to tighter economic conditions.
The top 5 most popular self-gifted gifts in order are: clothing and footwear; TVs and music equipment (including iPods, iPads, laptops); alcohol and tobacco; recreation and culture, and restaurants and hotels
When asked how they are able to afford their treats a large proportion said they are embracing cashback, points and mileage schemes (36%). Women are much more likely to use loyalty programmes to treat themselves (30%) compared to men (17%), which makes sense since the research showed that almost a quarter of women see indulging in self-gifting as a guilty pleasure, compared to just 13% of men.
Nick Clements, Managing Director at Barclaycard UK explained: "We took time to speak to our customers to understand how they want to be rewarded when they spend. Choice and value came out as the key to meet people's needs.
"We know that purse strings are being tightened and we also know that people like to treat themselves and their families. The new Barclaycard Cashback card helps you do just that. The only thing we can't help out with is what your loved ones want to receive this festive season.
"Our Cashback card is built on choice and simplicity, giving customers 2% on their five biggest monthly purchases and 0.5% on everything else. Our Cashback card puts you in control of what you get the 2% boost on each month; unlike other cards that only give you a bonus for certain types of spend. All customers need to do is make fifteen purchases a month, of any amount to qualify for the 2% cashback rate."
For more information on the Cashback card; visit: www.barclaycard.co.uk/cashback
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Notes to editors:
*ID: Polling by Opinium commissioned by Barclaycard. 2,012 UK adults (18+) were surveyed between 5 – 8 October 2012; additional sample of 505 adults with a gross personal income of >£32,910.
Barclaycard, part of Barclays Retail and Business Banking, is a leading global payment business which helps consumers, retailers and businesses to make and accept payments flexibly, and to access short-term credit when needed.
The company is one of the pioneers of new forms of payments and is at the forefront of developing viable contactless and mobile payment schemes for today and cutting edge forms of payment for the future. It also issues credit and charge cards to corporate customers and the UK Government. Barclaycard partners with a wide range of organisations across the globe to offer their customers or members payment options and credit.
In addition to the UK, Barclaycard operates in the United States, Europe and Africa.
Key facts published in July 2012;
total number of Barclaycard customers: 23m
number of retailer/merchant relationships: 89,000
Barclaycard Press Office
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+44 (0)1604 25 1229
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