The Christmas business makes the cash tills ring. 80% of the Austrians want to give presents to their loved ones and spend a total of almost four billion Euros this year. "Austria is traditionally considered a land of savers. But when it comes to Christmas gifts, they are more generous from year to year and draw back on their savings," says Thomas Schaufler, Head of Private Customer Business at Erste Bank. On average, Austrians will spend 525 Euros on Christmas presents this year. In 2009 they spent 364 Euros. 7 out of 10 use their own savings to buy presents. 4 out of 10 people pay for the presents with the Christmas bonus they receive from their employer. And Austrians try to avoid overdrafts or instalment payments. This is the result of a representative survey conducted by the market research institute Integral on behalf of Erste Bank und Sparkassen.
Cash is the most popular form of payment for Christmas shopping, outranking even debit cards
7 out of 10 Austrians buy Christmas gifts in the retail sector, 32 percent order on the Internet and 20 percent in the mail order business. The most popular means of payment is cash: three quarters pay "cash". Cashless payment is becoming more and more popular. "More than half of all consumers pay for Christmas shopping with a bank card and a quarter with a credit card. With our new digital Mastercard on the mobile phone, another uncomplicated option is added", says Schaufler. For this option, an existing s Mastercard has just to be digitized in the George Go App. As a result, customers of the Sparkassen Group can now use their Android smartphone to make contactless payments or withdrawals at automated terminals worldwide.
One in six buys last minute
17 percent of the Austrians buy the Christmas presents in the last week before the holiday. Predominantly, it’s the 14- to 29-year-olds who buy the gifts at the last minute. In line with this trend, Erste Bank und Sparkassen offer an ideal last-minute gift: an online version of the s Prepaid Gift Card. This rechargeable Visa card is available in the George Store and in the CardControl app. "With this service offered in the George Store, you can quickly print your present as late as on the 24th of December and still be in time put it under the Christmas tree," says Schaufler.
The s Prepaid Gift Card comes in two variants: as a physical plastic card (delivered by mail) or as a printable online version. The gift cards can be charged once with an amount from 10 up to 150 Euros. According to the current survey, one in five Austrians considers a prepaid cash card as an attractive alternative to classic gifts.
Erste Bank will open four of its branches on Advent Saturdays
To be able to carry out one’s financial matters even on weekends in the Christmas rush, Erste Bank will open four of its branches in highly frequented areas of Vienna on every Saturday in Advent. These branches are located on the Mariahilferstraße shopping street, in the Donauzentrum mall, on the Graben shopping street and in “The Mall” in Wien Mitte and will be open from 10:00 am to 04:30 pm. Consulting services and all other services offered by the bank are fully available during this time.
On the study structure: Integral conducted a telephone survey in which they asked 502 Austrians about their buying behaviour and how much they plan to spend on Christmas presents. The survey took place from 10 to 22 November 2017. The results are representative of the Austrian population aged over 14, that is, around 7.6 million people. Unless otherwise stated, comparative figures are figures from previous years.
17 percent of the Austrians buy the Christmas presents in the last week before the holiday. Predominantly, it’s the 14- to 29-year-olds who buy the gifts at the last minute. In line with this trend, Erste Bank und Sparkassen offer an ideal last-minute gift: an online version of the s Prepaid Gift Card. This rechargeable Visa card is available in the George Store and in the CardControl app. "With this service offered in the George Store, you can quickly print your present as late as on the 24th of December and still be in time put it under the Christmas tree," says Schaufler.
The s Prepaid Gift Card comes in two variants: as a physical plastic card (delivered by mail) or as a printable online version. The gift cards can be charged once with an amount from 10 up to 150 Euros. According to the current survey, one in five Austrians considers a prepaid cash card as an attractive alternative to classic gifts.
Erste Bank will open four of its branches on Advent Saturdays
To be able to carry out one’s financial matters even on weekends in the Christmas rush, Erste Bank will open four of its branches in highly frequented areas of Vienna on every Saturday in Advent. These branches are located on the Mariahilferstraße shopping street, in the Donauzentrum mall, on the Graben shopping street and in “The Mall” in Wien Mitte and will be open from 10:00 am to 04:30 pm. Consulting services and all other services offered by the bank are fully available during this time.
On the study structure: Integral conducted a telephone survey in which they asked 502 Austrians about their buying behaviour and how much they plan to spend on Christmas presents. The survey took place from 10 to 22 November 2017. The results are representative of the Austrian population aged over 14, that is, around 7.6 million people. Unless otherwise stated, comparative figures are figures from previous years.