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Grandparents to spend over £2 billion this Christmas

Posted on 10 December 2018

Britain’s kids are set to enjoy an avalanche of presents this Christmas – with grandparents alone set to spend more than £2 billion on gifts, according to new research.

A survey commissioned on behalf of SunLife of 1,500 grandparents revealed that they will splash out an average of £67.62 on each of their beloved grandchildren ahead of December 25.

And with the average grandparent having four grandchildren, that adds up to a total of £270.48.

With an estimated 8.5 million grandparents set to celebrate Christmas this year, that means they could spend a staggering £2,299,800,000 across the nation on presents.

Ian Atkinson, Director of Marketing at Sunlife, which commissioned the research, said: “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.”

Four in 10 grandparents say their favourite thing about the Christmas season is spending time with their grandkids, while almost one in five loves to give people presents.

But while 80 per cent admit they enjoy spoiling their grandchildren with gifts, one in four have been ‘told off’ by their son or daughter for spending too much on presents.

And more than one in twenty even have times where they worry they’ve not spent enough on gifts.

It also emerged that looking back on their own Christmases gone by, elderly Brits remember being most delighted by a bicycle or scooter, or a doll’s house.

And those very gifts are still often given to grandchildren today by older relatives who grew up loving them, with one in 10 gifting a bike or scooter last year.

But the survey, which also polled 1,500 kids aged 6-15, found Lego, Nerf guns and a Build-a-Bear are among the top gifts youngsters are asking for from their grandparents this Christmas.

Smiggle stationery, sweets and chocolate and a virtual reality headset are also popular requests.

And they’re also strict about their Christmas wish list – with more kids wanting something they’ve expressly asked for rather than getting a surprise.

Ian 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.

“And if you’re not sure what to get them but not keen on cash, gift guides like SunLife’s – which help you choose a present according to how much you want to spend – can be great for ideas.”

See SunLife's Christmas gifts for grandchildren.

Source:

*Grandparents will spend £67.62 on each grandchild

*They have an average of 4 grandchildren

£67.62 x 4 = £270.48 in total per grandparent

X 8.5 million = £2,299,800,000

Here's the information that you need to know about who we are and the other companies that we work with in order to provide our products and services.

Who are SunLife?

Phoenix Life Limited trades as SunLife and is the provider of the Guaranteed Over 50 Plan, SunLife Insurance and the life insurance policy payment option for Funeral Plans. Phoenix Life Limited’s registered office is at 1 Wythall Green Way, Wythall, Birmingham, B47 6WG (registered in England, no. 1016269). 

SunLife Limited distributes financial products and services and is a company limited by shares, registered office: 1 Wythall Green Way, Wythall, Birmingham, B47 6WG (registered in England, no. 05460862). SunLife Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register (registration no. 769427).

You can contact us by post at SunLife, PO Box 1395, Peterborough, PE2 2TR or by phone on 0800 008 6060.

If you choose to add Funeral Benefit Option to your Guaranteed Over 50 Plan, Dignity Funerals Ltd arranges and provides the funeral services, registered office: 4 King Edwards Court, Sutton Coldfield, West Midlands, B73 6AP (registered in England and Wales, No. 00041598). Dignity Funerals Ltd is a member of the National Association of Funeral Directors.

Who provides the Funeral Plans?

Dignity Funerals Ltd arranges and provides the funeral services, registered office: 4 King Edwards Court, Sutton Coldfield, West Midlands, B73 6AP (registered in England and Wales, No. 00041598). Dignity Funerals Ltd is a member of the National Association of Funeral Directors.

The life insurance policy that pays for your funeral will be provided by Phoenix Life Limited, trading as SunLife.

Who provides My Smarter (ISA)?

My Smarter (ISA) is provided by Scottish Friendly Asset Managers Limited. Authorised and regulated by the Financial Conduct Authority. Details can be found on the Financial Services register, registration No. 188832. Member of The Investment Association. Registered Office: Scottish Friendly House, 16 Blythswood Square, Glasgow G2 4HJ.

Who provides the Will writing services?

Hugh James is authorised and regulated by the Solicitors Regulation Authority (SRA Number:303202).

The information contained on this website is based on Hugh James' understanding of the law of intestacy in England and Wales only as at April 2014. The law in Scotland and Northern Ireland is significantly different. This is for information purposes and is not intended to be legal advice.

Who provides SunLife Pet Insurance

SunLife Pet Insurance is arranged and administered by BDML Connect Limited. BDML Connect Limited is authorised and regulated by the Financial Conduct Authority (No. 309140). Registered in England and Wales Number 02785540. Registered Office: 45 Westerham Road, Bessels Green, Sevenoaks, Kent, TN13 2QB.

Who provides SunLife Home Insurance

SunLife Home Insurance is arranged and administered by BISL Limited and underwritten by a panel of insurers. BISL Limited are an intermediary authorised and regulated by the Financial Conduct Authority. Registered in England no. 03231094. Registered office Pegasus House, Bakewell Road, Orton Southgate, Peterborough PE2 6YS.

Who provides SunLife Car Insurance

SunLife Car Insurance is arranged and administered by BISL Limited and underwritten by a panel of insurers. BISL Limited are an intermediary authorised and regulated by the Financial Conduct Authority. Registered in England no. 03231094. Registered office Pegasus House, Bakewell Road, Orton Southgate, Peterborough PE2 6YS.