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 research.
A poll of 1,500 nans and grandads revealed 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 nannas and grandpops 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.”
The study also found four in 10 grandparents say their favourite thing about the Christmas season is spending time with their grandkids, while almost one in five love 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.”