‘Tis the season: UOB uncovers three surprising holiday shopping trends

Shoppers have bigger budgets now.

Singapore-based consumers are all set to splurge on costly Christmas gifts this season despite the city-state’s subdued economic performance, according to a survey UOB.

Shoppers are expected to spend a total of $769 on presents this year, an 8% increase from $709 last year.

Interestingly, respondents plan to pamper themselves by setting aside close to $500 on buying themselves the ideal gift, a significant increase from $292 in 2014.

Surprisingly gift budgets for spouses and significant others remains unchanged at just $298.

The top recipients on this year’s Christmas list are spouses and partners, with 63% of respondents planning to give their significant other a Christmas present.

Men will be more generous than women in this regard, spending $386 on a gift for their loved one, nearly double of the $186 spent by the ladies.

The survey showed that women generally want department store vouchers, chocolates and perfumes, while men are prefer to be given a smartphone and shopping vouchers.

However, there appears to be a mismatch as women are more likely to buy chocolates, cologne and toiletries for their men, while men are more likely to choose chocolates as the top gift for the women in their lives.