Most Scots will reduce the amount they spend on Christmas presents and celebrations this year but will snub Black Friday and other sales events, according to new research.

Two-thirds (64%) of Scottish adults said they will cut back this year, either by switching to cheaper brands or by cutting off purchases of some products altogether.

Nearly a third of Scottish adults intend to do their Christmas shopping early this year in a bid to save money.

More than half (58%) of adults in Scotland aren’t planning to take advantage of this year’s big discount moments such as Black Friday, Cyber Monday (61%), or Boxing Day sales (65%) compared to last year.

According to technology and consulting group Accenture, a third (36%) of customers are put off brands that engage in shrinkflation (reducing the size of products sold at the same price).

A third (34%) are also cutting back on eating out, food and drink at home (22%), while nearly half (48%) are planning to spend less on presents. 

Scottish consumers still prefer to shop in store (64%), with 58% citing ‘trying and seeing’ products as their primary driver, while 34% enjoy browsing for inspiration.

Stuart Chalmers, UK retail industry lead and joint managing director, Accenture Scotland, said: “Surprisingly, whilst shoppers will be looking to save where they can, it seems like the big discount days and festive sales won’t help to drive a spike in winter sales.”

For 62% of respondents, every day bills remain their biggest financial priority for 2024, though many are still keen to invest in a few luxuries. Nearly a third (28%) of the respondents plan to spend on home improvements, whilst a further 33% will be saving up for a holiday.