New data from the One4all Gift Card Gifting Index reveals that Britain is becoming an increasingly generous nation, with an anticipated 7 per cent increase in gifting spend.
The research found that in 2014, the average Briton spent GBP370.67 on gifting occasions – but, according to the One4all Gift Card Gifting Index, the average UK adult is now predicting a spend GBP397.37 typically on presents outside of birthdays and Christmas.
The news comes just days after the Office of National Statistics (ONS) measured a 4.5 per cent increase in household disposable income on an annual basis in the first quarter of the year. The firm links an increased gifting spend with increased consumer confidence.
The study by One4all, the Post Office gift card, surveyed 1,732 UK adults on their gifting habits, and revealed the true value of ‘panic-bought’ presents. It found GBP17.5 billion is wasted every year on gifts that many are not confident the recipient will like, with 85 per cent of gifts bought throughout the year given uncertainly.
Housewarmings are taking over from christenings and engagements as the fifth most popular UK gifting occasion not including Christmas and birthdays, according to the holidays’ league table. Mother’s Day won out as the most popular gifting occasion in the UK – stealing 7 per cent more of the vote than Father’s Day, with the report suggesting: “At heart, we are a nation of mummy’s girls.”
Declan Byrne, managing director at One4all, the Post Office Gift Card, says: “It’s interesting to see that consumer confidence is growing to the extent that we are not only investing in ourselves, but other people. 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.”
He continues: “That said, it does seem like, as a nation, many are selecting gifts that may not be right for the recipient – 85 per cent of gifts being bought uncertainly is an astonishing figure, and suggests that, we either need to be buying gifts which offer more choice or allow for a wider range of tastes – or perhaps worry less about finding that ‘perfect’ gift, to take the pressure off and allow us to make more instinctive, natural gift decisions.”
The study also finds that while the research indicates people are becoming more generous with the amount they spend on gifts, almost one in two people feel they are the great ungifted, buying more gifts for others than they receive.
Aberdeen and Belfast are the most generous cities in the UK, typically spending GBP896 and GBP886 on gifts per year. Meanwhile, Edinburgh, Nottingham and Oxford were found to be the most stingy, spending just GBP266, GBP285 and GBP283 respectively.