Grandparents Set To Spend Over £2 Billion On Gifts

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Grandparents are spending £2 million on their grandkids.Deposit Photos

Even in adulthood, you can always rely on your grandparents for a packet of Smarties or a tenner to ‘go out dancing with your friends’.

And it seems today’s grandparents are spoiling their grandkids more than ever; spending over £2 billion on gifts this Christmas alone.

Of course, I’m not just talking about one particularly indulgent set of grandparents. This information comes from a poll of 500 grandmas and grandads, who admitted to splurging an average of £67.62 on each of their precious grandkids.

Bearing in mind each grandparent has an average of four little darlings to treat, this quickly adds up with the average spend totalling £270.48.

An estimated 8.5 million grandparents will be marching to UK toyshops this Christmas, emptying their collective purses of £2,299,800,000.

Kind of adorably, this study found four out of 10 grandparents say their favourite thing about the Christmas season is being with their grandchildren, while the other six presumably are more partial to the Emmerdale Christmas special.

While 80 per cent admit to treating their grandkids with prezzies, one out of four have been scolded by their own son or daughter for spending too much.

Looking back on the Christmases of their childhood, grandparents reportedly recall being most excited by the gift of a bicycle, scooter, or doll’s house.

And they will very often be inspired by these fond memories when picking out gifts for their beloved grandchildren, with one in ten gifting a bike or scooter during Christmas 2017.

Marketing director at SunLife, Ian Atkinson, explained:

Grandparent spending looks to have increased from last year.

Grandparents are spending around £20 more per grandchild than they did last year, according to our research from 12 months ago.

Everyone knows a grandparent loves to spoil little ones at Christmas – but they can also struggle to know what they might want and end up buying presents that are either unwanted or inappropriate, we have a free grandparent’s gift guide.

Atkinson added:

With over £2 billion being spent, grandchildren today can certainly look forward to more at Christmas than their own grandparents did, and their expectations have probably never been higher.

If you’re not sure what to get, cash or gift vouchers are really popular presents for children because it gives them the fun of choosing something for themselves, perhaps in the new year when the excitement of Christmas has faded.

Check out which presents kids are hoping to get from Nana and Grandpa this Christmas morning here

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