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How is it December already?
As we step into the season of Christmas parties, festive nights out and Secret Santa presents, there are only a few short weeks left to get your gift shopping sorted before the big day.
But there's no need to panic. With the right planning, gift shopping doesn't have to be a stressful or long drawn-out process.
A recent study from
PayPal* revealed 32% of people will buy a big present as a group and split the cost this Christmas, rather than buying lots of little presents, which got us thinking about the perks of group gifting at this time of year.
With a bigger budget to work with and less time spent wandering around shops or browsing for presents online, it can be a very quick and simple way to sort out your shopping ahead of the festive season.
With that in mind, here are some handy tips to help you and your friends or family organise some group gifts this Christmas...
1. Set a budget
Money worries are at the front of everyone's mind this Christmas, as we all continue to feel the pinch of inflation and a rising cost of living. So it's really no surprise that 59% of people plan to set a strict budget and stick to it when it comes to buying gifts this Christmas.
And group purchases are no different. Before settling on a gift idea, be sure to check in with everyone on spending limits. Work out how much everyone's comfortable paying towards a gift and, if you're worried about costs, don't be afraid to voice your own limits as well. When you've settled on a budget, it'll be much easier to choose a gift for your lucky recipient.
2. Make a plan for bill-splitting
Group gifting has a lot of perks but, when it comes to payment, things can sometimes get a bit awkward.
In PayPal's study, splitting bills was found to create some friction, with two-thirds (67%) of people revealing they've felt too awkward to ask for money they were owed so decided not to mention it.
With that in mind, it's essential that you can receive and send money between friends and family instantly, without any unwanted hassle or tension.
PayPal has the perfect solution for situations like these, to ensure paying people back or requesting money from friends and family doesn’t have to be an awkward process. Instead, it allows you to simply, swiftly and securely send and receive money at the touch of a button, making bill-splitting a breeze.
Plus, you can use the Request feature on PayPal to ask for money before making a group purchase. Not only will it stop you from being out of pocket while you wait for funds, it also takes away the awkwardness and discomfort that can come with asking for money from friends or family.
It's a quick, easy and reliable way to cut out the back-and-forth this Christmas, especially when it comes to group purchases. You can sign up for PayPal
HERE.
3. Brainstorm ideas
Now for the fun part - choosing a gift! Sometimes, it's easy to work out what a pal may be looking for in a gift. Maybe you've heard them mention a beauty brand they're obsessed with or a new piece of tech they've had their eye on.
But when it comes to those friends or family members that are trickier to shop for, opting for an experience-based gift is usually a safe bet. PayPal's study showed 73% think enjoying experiences this Christmas is more important than buying presents, making it the perfect year to treat someone to an activity or event they'll enjoy.
If you're struggling to think of a physical gift that your loved one might like, think about any nice experiences they might enjoy instead. It could be a relaxing spa day for a doting parent, some show or concert tickets for a pal or an evening of dinner and drinks with your siblings. The big bonus of group gifting is you often have a bigger budget to play around with, making it much easier to treat a loved one to a nice day or evening out.
Take the hassle out of Christmas bill-splitting by signing up for PayPal HERE or downloading the PayPal app.
*About the study: PayPal's Gifting & Giving Study was conducted online by Censuswide, which surveyed 1,000 respondents across Ireland in September 2022. All statistics are taken from this source, unless otherwise stated. Censuswide abides by and employs members of the Market Research Society which is based on the ESOMAR principles
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