Many families feel under pressure to spend at this time of year – but the reality is that some of the gifts that people have spent their hard-earned cash on in the run-up to Christmas will never be used.
Parents plan to spend an average of £222 per child, according to the research commissioned by the Association of Investment Companies (AIC).
Around one in four (24%) parents who give gifts at Christmas say some of the presents go unused or are never played with.
The AIC calculates that across the UK as much as £652 million could be wasted on unwanted presents this Christmas.
Around a fifth (21%) of parents of children under 18 agree that too much is spent on gifts each year – and 24% say their children receive too many gifts, researchers found.
In fact, nearly a fifth (18%) would prefer their child to have fewer gifts and be able to save the money for their future instead.
Researchers also found the demise of the traditional “thank you” note is rubbing salt into the wound, with three-quarters (76%) of children no longer sending traditional notes in response to gifts they receive.
WhatsApp messages and video calls are among the more modern methods of expressing gratitude for festive gifts, according to the survey.
One in eight (12%) parents says their children have to be forced to say thank you, according to the Opinium survey of 4,000 people across the UK in September.
Annabel Brodie-Smith, communications director at the AIC, says: “Christmas is a time when many people spend more than they expect, so the last thing they want is to waste their money. It’s clear that people are beginning to take note of the waste that often comes as part and parcel of the festive season.”
To cut down on gifts going to waste, family members could agree to club together to buy a smaller number of presents that they know their loved ones will really want, rather than showering them with lots of smaller gifts.
Parents and grandparents could also consider putting some money towards a gift for the here and now and a portion into savings, which will be appreciated by children in the future.
Re-gifting could be another option, rather than just leaving items lying around unwanted this Christmas.
This is already a popular option, with 14% of families reporting that they regift surplus presents to avoid waste.
People could also try re-selling any unwanted items online, although to avoid family fallouts it might be best to discuss this with the gift-giver first.
