Spending on gifts is on the rise - Vouchers - News | moneyfacts.co.uk


Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Spending on gifts is on the rise

Spending on gifts is on the rise

Category: Vouchers

Updated: 30/11/2017
First Published: 27/07/2015

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

How much do you spend on gifts each year? According to research from One4all Gift Card, the amount could be steadily rising, with Brits becoming an increasingly generous bunch.

Gift spending to rise by 7%

The figures, from the latest Gifting Index, show that consumers spent an average of £370.67 on gifting occasions last year, an amount that's set to rise to £397.37 this year – an increase of 7% – and that's not even counting spending on birthdays or Christmas.

The amount spent can vary wildly depending on where you live in the UK – Aberdeen and Belfast were found to be the most generous cities in the UK, typically spending £896 and £886 respectively on gifts per year. Conversely, Edinburgh, Nottingham and Oxford were the most stingy, spending just £266, £285 and £283 respectively.

So just where do people spend all that money? Well, it seems that mums are key recipients, with Mother's Day being the most popular gifting occasion in the UK. Father's Day is also right up there, as are housewarmings, which are becoming more popular than christenings and engagements in terms of gift expenditure.

Growing confidence

The findings are in line with wider economic reports suggesting that disposable income, not to mention confidence, is on the rise: the Office for National Statistics, for example, recently measured a 4.5% increase in household disposable income, while Lloyds Bank reported that consumer confidence has hit a record level.

"It's interesting to see that consumer confidence is growing to the extent that we are not only investing in ourselves, but other people," said Declan Byrne, managing director at One4all. "It's fantastic that people are starting to feel like they can spend again – and even better to see that being played out in our generosity as a nation."

Make your money go further

Whether you're a big gifter or a bargain hunter, you'll want to make sure that your money can go as far as possible. That way, you can be more confident about getting the recipient something that they'll really like, but that doesn't mean you have to spend a fortune – why not be on the lookout for vouchers or discount codes to make your money go further? You can then give them something they'll love without blowing the budget, offering a win-win situation.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.