Almost one-in-four people have not yet used gift vouchers that they received last Christmas, according to a new survey.
The research, carried out for Competition and Consumer Protection Commission (CCPC), found that almost two thirds of people (63%) received at least one voucher as a present.
But, almost a year later, 22% of those had not yet used their gift.
Just over 1,000 people were surveyed as part of the study, which was conducted by Ipsos B&A.
The Director of Communications at the CCPC said the research shows how popular vouchers are as gifts but "if they're not used, they’re a waste of money".
Grainne Griffin said the consumer watchdog is "encouraging consumers to use gift vouchers as soon as possible, and if you’re thinking of giving someone a voucher this year, maybe consider if they would prefer cash – it comes with fewer terms and conditions".
The research also found that consumers expect to spend an average of €1,163 this Christmas, which is broadly in line with last year, when the average spend was €1,177.
The study revealed that people in the 45-54 age group expected to spend the most at €1,465 on average.
Households with children expected to spend an average of €1,601 compared to a figure of €995 for those without children.
Almost a fifth (19%) plan to borrow to cover Christmas costs, with the majority of those planning to use a credit card.
The survey also found that three quarters of all women start their Christmas shopping before December, compared to half of all men.
Ms Griffin said the CCPC advise consumers to plan carefully.
"List everything you’re going to have to spend money on for Christmas – presents, food, drink, nights out, travel – and then look at your sources of cash," said Ms Griffin.
"Think about how many pay-days you have left before Christmas. Will your savings and wages cover your costs? If not, have a look at where you might be able to cut back," she added.
