On the night before Christmas it’s not very pleasant to find you’ve forgotten to buy Granny’s present. This is a sentiment shared by thousands across the UK, with an ever increasing number of consumers hitting the shops before closing on Christmas Eve.
Although Christmas falls on a Wednesday this year, giving consumers the opportunity to shop right up to the big day itself, panic buying is expected to play a key role in boosting the fortunes of retailers this year. However, according to research by charitable loans scheme Lend With Care, consumers will spend tens of millions of pounds on last minute gifts which, for the large part, will never be used by the recipients.
Data contained within the report forecasts that a total of £59 million will be spent on unwanted Christmas presents by consumers in London and the South East alone. In fact, a staggering 20 per cent of participants surveyed admitted that they frequently panic buy gifts which they realise will probably be wasted.
Lend With Care has attempted to come up with a solution to this problem, however, by offering consumers the opportunity to purchase a thoughtful and memorable gift for a loved one which will help fund entrepreneurs operating businesses in poor communities around the world.
The scheme, developed by international development charity CARE International UK and The Co-operative, allows consumers to purchase a gift voucher valued at either £15 or £30, with the cash being passed on in the form of a micro-loan to an entrepreneur.
Once the money has been paid back to the charity by the entrepreneur, it will be returned to the recipient of the voucher so they can either spend it on themselves or re-invest it into another worthwhile project.
The initiative has gained the support of Dragon’s Den panellist and renowned entrepreneur Deborah Meaden, who says; “I hate the feeling of panic-buying a present, knowing it’s not quite right, isn’t memorable and may even go to waste.
“If not enough thought is invested in a gift, it shows, yet we all do it every year.
“Becoming a lender is rewarding and fascinating – it is a lovely way of giving friends and family the opportunity to be the leg-up that entrepreneurs around the world need.”
The charity’s website, lendwithcare.org, offer a variety of designs for their gift vouchers which can be sent via email, downloaded or printed off. They are also available right up until Christmas morning, so are ideal for those of us who tend to leave Christmas shopping up to the very last minute!
Lend With Care spokeswoman, Tracey Horner, says; “Too many people feel an obligation to waste money on useless gifts they cannot afford for people who won’t use it.
“Presents can be memorable without breaking the bank, and a lendwithcare.org voucher is the ultimate value for money smile raiser.”
Would you consider using money allocated for a Christmas present to aid an entrepreneur in a poorer country?
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