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04 November 2005
Brits will splash out a whopping £1.7 billion on Christmas decorations and accessories that will end up in the bin come January 6th, according to research from Morgan Stanley.
This is the amount that will be spent on items such as cards, wrapping paper, trees and bright adornments, with the average person forking out £36 each before they feel that their preparations are complete.
The survey showed that 76 per cent still use a non-artificial Christmas tree, with this normally constituting their greatest expense at an average of £27 each.
Londoners spend more than anyone else over the festive period, averaging £38, while those in the South West are relative scrooges, using up just £30.
Patrick Moore, marketing director for Morgan Stanley Credit Card, said: "The festive season can hit pockets hard and there is nothing more irritating than feeling like money has been wasted.
"There's a multitude of ways that shoppers can save money without having to skimp on the little things that make Christmas special."
Last month another Morgan Stanley survey indicated a more careful approach to spending this Christmas, with credit card spending likely to be ten per cent down on last year's figure.
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