In research carried out by PayPal, just under three-quarters (71 per cent) of consumers are set to get a food-related item as a gift to give to someone. Meanwhile, 65 per cent of people are due to buy either wine or spirits.

Research from the firm also showed that 70 per cent will pick up CDs or DVDs for present purposes, with 64 per cent getting clothes. Books and sports equipment are to account for 63 and 11 per cent of consumers' expenditure respectively. Some 40 per cent, meanwhile, are to buy electrical goods, the purchase of which could be funded via a cheap secured loan.

The study also indicated that the amount of money spent on Christmas presents this year is to be approximately half of that splashed out in 2005. According to PayPal, consumers are due to spend an average of 154 pounds on gifts during the upcoming festive period. Two years ago, this figure stood at 310 pounds.

Findings from the company also showed that men are set to have the highest expenditure out of the two sexes this year, as they will spend 169 pounds. In comparison, women are to splash out 142 pounds. For both males and females, applying for a personal loan could be a helpful way in which to fund festive expenditure.

Commenting on the figures, Cristina Hoole, shopping expert for PayPal, said: "The majority of us really look forward to Christmas because of the unexpected presents we're all keen to receive. Shopping is part and parcel of Christmas and putting a smile on someone's face with a fab present, usually the pick-me-up we all need and like at the end of a tough year. However, from the PayPal findings, this year will be a booze-filled, stomach-satisfying affair.

"There are plenty of bargains to be had by shopping online compared to the high street. If you're prepared to do some digging around on the internet you'll find fantastic and original ideas to ensure you deliver the most creative presents without breaking the bank this Christmas."

While shopping over the internet to purchase Christmas presents, those looking for a competitive way in which to manage their money may also wish to take the time to apply for an online loan. And taking out a personal loan via the web could be advisable for a rising number of consumers after a recent study by Mintel showed that about one in ten Britons will shop over the internet to get the majority of their gifts, with 38 per cent buying some presents online.

Overall, it was suggested that retail sales in the run-up to the yuletide period are between two and three per cent higher than this time last year. Meanwhile, a third of consumers state that although their finances will be strained over the course of Christmas, they will still splash the cash. In turn, taking out a quick loan could be one way in which to reduce spending pressures.