According to the findings released by VoucherCodes.co.uk, Brits are embarking on a festive spending bonanza in the run-up to Christmas, with people getting ready to spend £203.98m more on children’s Christmas presents than their parents did a generation ago (taking into account inflation).
While a generation ago, it was board games (35%) and books (30%) that topped wish lists, today a games console (38%), mobile phone (35%), or an iPad or iPod (32%) are the most requested children’s Christmas gifts, with the average parent predicted to spend £119.45 per child on Christmas presents this year.
This figure represents an increase of £50.21 by comparison to what their own parents spent on them, revealing that the cost of Christmas has increased by £2.68bn (73%) in a generation.
With a quarter (23%) of parents spending over £200 on Christmas presents per child, compared to just 6% a generation ago, the research has highlighted the financial pressures that families are now under to provide a special Christmas for their children and is particularly true for parents under the age of 35.
With regards to parents, the average child under 10 years old will spend a total of £26.71 on mum and dad for Christmas, with chocolates (44%), perfume/aftershave (28%) and clothing (25%) the most popular presents. In contrast, once children reach 18 years old, the average adult spends £56.40 on Christmas presents for their parents.
Overall, the nation spends an average of 12% more on gifts bought for dads (£21.75) than presents for mums (£19.43), equating to £27.4m more being spent on presents for dads across the nation than mums.
The survey featured over 2,000 people across the UK.
Top: Children’s Christmas gifts are now averaging £119.45 per child.
