Consumers 'to spend an average of £363 on Christmas gifts for family'
One in 12 plan on spending £800 on Christmas gifts for relatives, survey finds
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Your support makes all the difference.Consumers are planning on spending around £363 on Christmas presents for their relatives, a new survey has found.
The Nationwide Building Society, conducted research to investigate how much members of the British public are willing to fork out when buying gifts and celebrating over the festive period.
The financial institution questioned 2,000 people on their Christmas spending habits, discovering the average amount people plan on spending on their children, partners and parents.
The survey found that people are willing to spend around £725 in total over the festive period to cover present shopping, partying with colleagues and preparing for the festivities on 25 December.
This amounts to approximately two weeks’ worth of one’s salary in accordance with the average UK wages, the National Building Society outlined.
The findings of the research concluded that one in 12 people are planning on splashing more than £800 on presents for their relatives this year, with eight per cent of people saying they believe they will spend more than that sum on all of their gift shopping.
Children were found to be the recipients of the most expensive presents.
The participants of the survey predicted they would spend £67 per child this Christmas, with more than a quarter saying they plan on spending more than £100 per child.
The average spend on a spouse or partner was discovered to be a slightly lesser £63.
Nonetheless, four per cent of the respondents admitted they’re not planning on buying anything for their other half.
While Secret Santa is widely-seen as a jovial tradition, just under a quarter of people said they felt pressured into buying Secret Santa presents for their colleagues at work.
Furthermore, nearly one in five said they struggled financially as a result of their spending throughout the festive period last year.
Here are the average amounts people are planning on spending on Christmas gifts for their family members, according to the Nationwide Building Society survey:
- Children, £67
- Spouse/Partner, £63
- Mother, £40
- Father, £33
- Siblings, £31
- In-laws, £30
- Step-parents, £29
- Grandparents, £28
- Aunts/Uncles, £22
- Pets, £20
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