Portuguese people are planning to spend around €373 on Christmas shopping this year, the highest figure in the last six years and a 23% increase compared to 2015, when families were planning to spend €301.
The data comes from marketing school IPAM, which annually researches the population’s spending habits around the festive season.
The study also found that shoppers are planning to shop more locally.
Five years ago, around half of them planned to get all their Christmas shopping done at malls, while this year the percentage is just 29%.
In fact, 31.4% answered that they will be Christmas shopping at local stores as well as malls, while 9% will buy their presents online.
The reported increase in spending has led to a boost in sales for businesses ranging between 10% and 15%, says Portugal’s Trade Confederation (CCP).