Santa, tell me: What's the price tag on Singaporeans' Christmas gifts?

The average person is willing to spend $100 to $300.

Most Singaporeans have set aside $100-$300 on gifts for Christmas this year, whilst one in five is prepared to spend over $500, hypermarket firm Giant Christmas revealed.

According to a survey they commissioned, close to 50% of Singaporeans are more likely to buy gifts for their co-workers as compared to their siblings or parents.

Meanwhile, respondents intend to spend $100 or more on each gift for parents, grandparents and significant others, but only $10-$19 on colleagues and bosses.

Singaporeans are willing to spend $50-$99 on siblings and children and $20-$39 on close friends and relatives.

Results also showed about 60% half of men intend to budget at least $300 compared to 39% of women.

"Finding a meaningful gift and affordability are the most important factors for people when shopping," the firm said.