Despite best intentions, 68% of Brits still search for gifts on Christmas Eve

· Brits set to waste £2 billion[1] on panic-bought gifts this Christmas

· A nation of last-minute Christmas shoppers – over three quarters (76%) of us panic-buy the night before Christmas to ensure stockings are filled

· Half (50%) of shoppers have deliberately bought something overly expensive or extravagant in a moment of panic

· Panic-buy Britain: 32% have bought on a whim because they couldn’t find what they are looking for and 32% because they unexpectedly received a present and felt obliged to return the gesture

· Almost half (48%) of consumers admit to avoiding the panic by recycling an unwanted gift they’ve already received

· Christmas shoppers urged to use InvisibleHand (www.getinvisiblehand.com) to grab the best festive bargains.

Ever woken up realising you’ve forgotten that all-important present the morning before Christmas Day? Well you’re not alone. According to new research[2] from InvisibleHand, the free online shopping tool, over two thirds of UK shoppers (68%) also end up buying last minute gifts from the shops on Christmas Eve, while over three quarters (76%) of us end up panic-buying to ensure Santa’s quota is met.

In fact, panic buying last year led to half (50%) of consumers deliberately purchasing something overly expensive or extravagant. Going by last year’s overspend, Brits could be set to waste a whopping £2 billion on last-minute, panic-bought gifts this year[1].

Not being able to find the ‘right’ gift (32%) and being unexpectedly given a present and having to return the gesture (32%) are among the main reasons why people end up panic-buying. However, consumers also put pressure on themselves with over a quarter (26%) leaving it until the last minute because they can’t actually decide whether to buy someone a gift or not. A forgetful 18% end up in a flap because they simply forget to buy a gift.

As a result of the panic, consumers cut corners with three in ten (31%) buying something the wrong size so that the recipient could return it after Christmas. Men are particularly bad at adopting this cunning ploy – 38% use this tactic. Two in ten people (19%) even buy something that they know the recipient won’t like. Again, men lead the way with 24% having used this ruse.

People even resort to ‘re-gifting’ – almost half (48%) admit to re-cycling an unwanted gift they’d already received. What’s more, women seem to be the best at this with almost half (48%) having recycled unwanted gifts in the past, compared to just 30% of men.

Robin Landy, founder of InvisibleHand, says: “As the carol goes: ‘‘tis the season to be jolly’, but for most of us the weeks leading up to the big day are often another story altogether. This is especially the case if you’ve left your Christmas shopping to the last minute. This often leads to panic-buying and consumers making extremely poor purchasing decisions, often forking out far more than necessary as a result.

“Purchasing Christmas gifts under pressure could see a staggering £2 billion wasted on panic–bought items this year alone. This is astonishing and could be easily avoided by shopping online. The key thing is for consumers to shop around to make sure they find the best prices available to avoid paying vast amounts. There are some great deals to be found by savvy shoppers looking to track down a Christmas bargain.”

InvisibleHand’s top five tips for online Christmas shopping:

§ Search online to make sure you have the best price available to avoid spending more than you need to

§ Ensure you read the terms and conditions regarding postage and packaging to avoid any unnecessary costs

§ Be sure to read up on delivery times to ensure gifts arrive in good time

§ Take advantage of discount vouchers on offer by searching online and entering a promotional code before clicking the ‘buy’ button

§ Check whether the retailer offers a gift-wrapping service, which could save you time in the long run.