Grandparents are set to spend an average of £236 on their grandchildren's Christmas presents, new research has revealed
Despite a fifth (19 per cent) of grandparents living over 100 miles away from their grandchildren, a tenth (9 per cent) having grandchildren overseas and a further tenth (7 per cent) unsure of when they last saw their grandkids, the study by the Co-op reveals UK grandparents are set to splash the cash this Christmas.
Highlighting the increasing generosity of UK grandparents, on average, grandparents are spending £59 on each of their grandchildren, and with the average grandparent having four grandchildren, this equates to £236 being spent this Christmas.
Furthermore, a fifth (15 per cent) of grandparents say they're planning to spend even more on their grandchildren than they did last year and a tenth (10 per cent) are spending over £100 on each of their grandchildren.
More disposable income
When delving further into why this is the case, a third (32 per cent) of grandparents say they have more disposable income this year and a fifth (16 per cent) say that having seen their grandchildren more this year has made them more generous.
- 1 in 7 are having to spend more as their grandchildren want something that's more expensive
- 1 in 8 are doing it because they’re not sure how long they have left with their grandchildren
- 1 in 12 say they’ll spend more because they’ve helped to look after them this year
- 1 in 14 say they couldn’t afford to spend much last year so they’re making up for it this year
Over a tenth of grandparents spend different amounts on their grandchildren, depending on how often they see them, their age and how easy they are to shop for.
The grandparent feel-good factor
When looking into how buying Christmas presents makes grandparents feel, half said it makes them happy, a third say they enjoy spoiling their grandchildren and a fifth say it makes them feel like they’re a bigger part of their lives.
However, 14 per cent say struggle to buy for their grandchildren as they already have so much.
- 1 in 9 say it upsets them as they can’t give them much
- 1 in 16 worry their grandchildren and great grandchildren won’t like the presents they choose for them
- 1 in 20 worry about spoiling them
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