Click to play videoNew Delhi: With Christmas round the bend, shoppers are planning how to slash bills and not how to splurge.
With bankruptcy staring them in the eye, its obviously difficult for Europeans to think of the usual Christmas gift shopping.
And in these troubled times, Europeans seem to be heading for a dark Christmas.
The mantra is 'tighten your purse strings', the prime worry on most people's minds is how to make ends meet and save for worse days ahead.
Rising household expenses and an uncertain economic future has taken the flamboyance out of the Christmas spirit and given way to more practical presents.
Retail chains across Europe are finding it hard to woo their customers.
Jace Tyrrell of the New West End Company that represents retailers in the West End of London said, "There's no doubt this is going to be one of the toughest Christmases for retailers across the country and in the West End this year. Every store manager will be briefing their staff that every shopper counts this Christmas."
Many are even open to the idea of exchanging cash as gifts this Christmas.
Partner at Deloitte (a financial group), Gilles Goldenberg said, "What is very striking and a sign of the times where we are right now is,in Europe more and more places when you ask consumers what they do want for Christmas, they say money."
According to a recent survey by financial group Deloitte, there will be a 7 per cent cut in year-end festivities especially in western Europe.
So when you prepare a list of your requests for Santa, remember slashing is in and splurging is out.
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