Birthdays are fun, but many of us struggle to think of a great gift every year. How much should we even be spending on a birthday gift anyway? Should you spend less on a gift for a colleague than on a gift for a loved one? To get to the bottom of this once and for all, we asked over 2000 people what they think we should be spending.
Our first question was how much our 2000 participants usually spend on a birthday gift. Over 30% indicated that they spend between 2500 Íkr - 4000 Íkr on a birthday gift, with an almost equal number of people spending less than 2500 Íkr.
This means that most people wouldn’t spend more than 4000 Íkr on a birthday gift. A big factor is the recipient and our connection to them.
Our participants were inclined to spend a little more when it came to birthday gifts for their children.
Over 38% will spend between 4000 Íkr and 8000 Íkr, with 33% spending over 8000 Íkr.
Our participants were inclined to spend a little less on their in-laws, with 40% spending between 2500 Íkr - 4000 Íkr, and 28% spending between 4000 Íkr and 8000 Íkr.
Over half of our panel spends between 2500 Íkr - 4000 Íkr on a gift for a good friend, 24% spend a little more at between 4000 Íkr and 8000 Íkr.
When spending on a gift for an acquaintance, almost 70% of our participants would spend up to 2500 Íkr, with a smaller group willing to go up to 4000 Íkr.
When buying a gift for a colleague, most of our panel spends no more than 2500 Íkr.
The great thing about buying gifts for colleagues is that a group of colleagues can all chip in a smaller amount, but you still end up with a good budget to buy their gift. Our tip would be to ask people to chip in beforehand and set a deadline, with a reminder when the deadline is nearing, as this will allow you to know your budget and spend wisely. It also avoids having to wait or ask to be reimbursed.
Now, none of this means that you are obliged to spend big bucks when it comes to gifts. Your budget is nobody’s business and entirely depends on how much money you’re able to spend. Just keep in mind that it’s the thought that counts; there’s nothing wrong with a small but meaningful gift.
