UK Kids To Enjoy A £1.4bn Gift Fest This Christmas

Father Christmas’ annual visit gets the kids excited, but that’s where the magic ends for UK parents as they gear up to spend a whopping £1.4billion* on presents this year.

Research by Churchill Home Insurance reveals that parents are planning to shell out £119 on presents for each of their children this year. And it doesn’t end there – the same adults are expecting to spend a further £16** on every other child they know.

Kids across the country already have more than £7.3billion worth of toys and gadgets in their bedrooms including TVs, stereos and games consoles. In fact, the average child’s contents are already estimated to be worth £618 - and Churchill predicts that this will rise by over 20%*** this Christmas.

The survey also revealed that DVDs and videos are this year’s top presents for kids, closely followed by books, clothing, computer games and board games.

 

Churchill’s Head of Home Insurance, Martin Scott said: “The research clearly shows that parents are prepared to treat their children at Christmas, although some may be surprised by the amount they are spending overall. Homeowners should review their contents sum insured in the New Year to ensure they have adequate insurance cover following their Christmas spending.” 

Meanwhile, 50 percent of parents admit that for their kids, Christmas is all about a visit from Father Christmas and the giving and receiving of presents. And nearly three-quarters (73%) of parents actively encourage their children to believe in the Christmas fantasy. For 80 percent of parents however, Christmas is all about spending time with the family and making it a special occasion for their children.

 

* Research commissioned by Churchill Home Insurance with 1,936 UK parents, October 2005. £1.4bn = £119.78 (average spend) x 11,858,857 (number of 0-16 year olds in the UK) Source: National Bureau of Statistics

** Research commissioned by Churchill Home Insurance with 1,936 UK inhabitants, October 2005. £16.25 = £192,795,363 (total expected spend) / 11,858,857 (number of 0-16 year olds in the UK) Source: National Bureau of Statistics

*** Research commissioned by Churchill Home Insurance with 1,936 UK inhabitants, October 2005. 20% = £618 / £120

 

For more information please contact:

Emilie Lien                                          

Churchill Insurance                               

020 8285 3588                                    

pressoffice@churchil.com