The amount they part with may not even cover the evening meal, but recent research has indicated that wedding guests are at least giving a little back.
According to a study by telephone and internet-based bank First Direct, in a set of results listed by retail-digital.com, guests at ceremonies are spending an average of £51 on their gifts, up from £47 in 2011.
Although this doesn’t seem like a huge increase, it’s worth mentioning that Britain is currently going through a double-dip recession and households are having to make cutbacks in certain areas. It’s therefore comforting to know that guests are still saving a space in their budgets to present a gift.
The study also found that guests in London were the most generous, with the average attendee paying £80 for a present – way above the £38 spend at ceremonies in the North East.
Furthermore, presents will always arrive in large quantities when the wedding reception venue is full of family and friends. First Direct found that an average of £4,896 is spent per wedding on gifts – a figure which, should the current trend continue, could rise to a total spend of £1.2 billion for Britain in 2012.
Cited by moneyhighstreet.com, Bruno Genovese, a product manager at First Direct, advised guests: “If you’re lucky enough to have lots of friends and family getting married, now might be the time to start saving.”