Wedding gift deflation: Somerset residents spending 9% less on wedding gifts than 5 years ago, reveals study.
‘A penny saved is a penny earned’, according to Benjamin Franklin. What with Brexit uncertainty having such a drastic impact on today’s economy, it’s no wonder Brits are tightening their purse strings in preparation for what could be a no-deal Brexit. People are choosing to be a little more cautious with their disposable income, which includes how much wedding guests are expecting to spend on gifts – could this be ‘Wexit’?
Cosy Owl, leading providers of candle making supplies, conducted a study of surveys from previous years* in order to investigate the change in value of wedding gifts in the UK over the past 5 years.
The study found that overall, wedding guests in the UK are prepared to spend £44.97 on a gift in 2019. This represents a wedding gift deflation of 10% compared to 2014. It was found that wedding guests in Somerset would be prepared to spend £45.71 on a wedding gift in 2019, which reflects a deflation rate of 9% when compared to 2014.
When broken down across the UK, wedding guests in Yorkshire and the Humber seem to be spending a significant amount less than 5 years ago, at 39%. Only in Scotland was there a wedding gift inflation, at 8%.
Great Expectations? Cosy Owl also questioned 2,500 wedded couples about their gifting expectations, and it was found that they would expect their guests to spend £50.70 on a gift on average, 11% more than guests’ plans on spending. In Somerset, couples say they expect their guests to spend an average of £44.75 on a gift.
In Wales, couples had particularly low expectations from their guests, saying they would only anticipate gifts worth £35.53. However, those in Northern Ireland had the highest expectations as brides and grooms say they would anticipate a whopping £85.96!
View Cosy Owl’s interactive map of the UK here, where you can see wedding gift disparities and deflation rates across the country:
Of course, some couples may decide to celebrate their big day outside of the UK. More than 4/5 (81%) of people surveyed think it would be unacceptable for couples to have a wedding gift list if they were asking guests to travel abroad for the ceremony.
Moreover, over 1/5 (21%) of respondents say they would be put off if a couple were to ask guests for money rather than a gift. In fact, more than 2/5 (41%) believe wedding gift lists are outdated. This could mainly be due to the belief that by the time many of us decide to marry, we will already be living together. This eliminates the need for many items one might traditionally place on a gift list.
Additionally, over a third (35%) of respondents say that if a couple is having a second wedding, it’s definitely not ok to have another wedding gift list – surely one is enough!
It was also found that over half (54%) of wedding couples say they would consider it more special if a guest made a wedding gift, rather than purchasing one.
‘Regardless of cost, a gift is something which comes from the heart. Investing some time into a thoughtful homemade gift the couple will treasure forever is priceless in terms of value!’ Says Richard Fewings of Cosy Owl.