Research reveals average amount spent on wedding gifts
27 Apr 2018
New research from personal loan provider Hitachi Personal Finance has revealed the average amount spent on wedding gifts in the UK
With the upcoming nuptials of Prince Harry and Meghan Markle this month, wedding season has truly begun, and with it comes the dreaded question: how much should I spend on a wedding day gift and is it ok to give cash?
Hitachi Personal Finance has conducted a survey to find out the average amount the nation spends on – and expects to receive as – a wedding gift, and whether cash/vouchers or a physical gift is better.
Overall, the research revealed that the average amount spent on a wedding gift per person is £44, regardless of if it’s a physical gift or cash/vouchers, whereas the average amount couples expect to receive per person is just £30. Guests aged over 65 are the most generous with 9% saying they would give a gift worth more than £100, while the majority of guests aged 18-24 said they would give a gift worth £20 or less.
Surprisingly, almost a quarter of engaged couples admitted that they wouldn’t expect any gifts or cash from their guests.
When it came down to the cash vs. physical gift quandary, two thirds of Brits would prefer to give a physical gift in order to get the newlyweds something personal, while one in five (21%) said they would buy a physical gift so they could get away with spending less. However, one in 10 millenials aged 25-34 stated they would give cash or vouchers in order to show how generous they’d been.
On a region-by-region basis, guests from Northern Ireland proved themselves to be the most generous, with one in 10 people giving a gift worth more than £100 to the happy couple. Conversely, those in the South West were revealed to be the most cost-conscious, with 20% admitting to giving a gift worth £20 or less.
Alison Tinlin, a wedding blogger, said: “It’s not about how much you spend; it’s about showing the couple you care. Something that is both personal and unique to them can become something to be treasured and that trumps an expensive gift with not much thought. Also in these modern times where many couples where many couples already have a house together, a monetary gift or donation to a honeymoon registry can be much more useful.”