An analysis of savings goals on Offspring shows that parents are also requesting more experience-based gifts for their children which will be used in the future. There is less support for receiving one-off disposable or perishable gifts. 38% of people surveyed by Offspring say that they value experiences more now than before.
According to Offspring co-founder Avinash Rajan, families in the UK are changing the way they view money and how they talk about it to their children: “As any parent will tell you the preceding months or weeks up to a child’s birthday or Christmas can be full of excited discussion about what they want as presents – it’s often the latest computer game, pair of trainers or the big plastic toys which litter many of our households.
“Spending more time at home in our own space has made us aware of what we seem to collect, usually overflowing toy boxes and wardrobes of clothes we don’t wear. The pandemic has really focused a lot of people’s attention on what they value most – time together and shared experiences with families. We’re seeing a rethink about what’s important and where we choose to spend our hard-earned money.