Many Kiwis are reconsidering their usual holiday plans as cost of living pressures continue to bite, according to a new survey.
It comes as Stats NZ figures released yesterday showed that year-to-year food price increases had reached a 14-year high.
Food prices in October were 10.1% higher when compared with October 2021.
Around one-third of people were planning to spend less on Christmas gifts than they usually would or spend less on dining out during the festive season.
Meanwhile, 32% were planning a small Christmas at home. In comparison, one in five surveyed said their plans would not be affected by cost of living increases.
The consumer survey data is from an online survey commissioned by business software firm MYOB - that polled 1020 adults in late October.
A spokesperson for the company, Jo Tozer, said New Zealand businesses should be paying attention to changing trends.
“While our research suggests spending will be comparable to 2021 on most levels, with the dollar not stretching as far this year - especially on essentials like food - it’s likely many families will be adjusting what their traditional festive celebrations entail," she said.
"As a result, it could continue to be a challenging end of the year for some businesses who will feel this pinch more than others as discretionary spending is reassessed."
According to the firm, one in five were also planning to shop earlier this year - with concerns about global shipping delays and stock shortages.
Around 43% are planning to do most of their Christmas shopping at a mall, while just over a quarter plan to purchase most of their gifts from a local business.
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