More than half of Britons (51.8 per cent) plan to shop at low-cost supermarkets such as Aldi, Lidl and Iceland, the study by e-commerce firm Webloyalty found.
However, 37.9 per cent plan to shop at Tesco - a higher figure than for any other supermarket.
The poll of 2,000 consumers found the average shopper will spend £443 and around 10 hours preparing for Christmas, but more than a fifth (21.3 per cent) plan to spend less than they did last year.
More than two thirds (66.8 per cent) of consumers plan to shop both online and in store, while just 16.8 per cent will buy solely in stores.
Meanwhile, the Christmas Barometer 2015 from Ferratum Group has revealed that UK households are set to spend 38.5 per cent of their disposable income during the festive season this year. The annual research revealed that consumers in the UK are far more generous when it comes to Christmas spending than the other 20 countries surveyed, far exceeding the global average of 23 per cent.
It appears that households worldwide are finding this level of Christmas spend hard to maintain in 2015. One in five of those households will spend less money compared with last year, with two thirds (64.6 per cent) stating they intend to spend a similar amount.
The research also revealed that toys and games are losing popularity in the UK, taking up a mere 7.9 per cent of our festive spend this year. This is in stark contrast to the rest of the Commonwealth, with Canada (35 per cent), Australia (23.1 per cent) and New Zealand (20.1 cent) still considering them to be worth the spend. The most popular gifts under the tree in the UK this year will be clothing, books and sports gear.