New research has revealed that London workers are set to spend £62m this year on workplace Secret Santas alone.
The survey data, conducted by FCA-regulated credit broker CashLady.com, has lifted the lid on Brits’ true attitudes towards having to buy their colleagues Christmas gifts
88% of Londoners reported that they will be getting involved in the tradition this year, which equates to 4,769,600 London workers who are expected to swap Christmas gifts with colleagues in 2021.(Source: ONS).
The survey data uncovered that Londoners are the biggest spenders when it comes to workplace Secret Santas, spending on average £13 per gift – 20% more than the UK average of £10.50.
Of the 2,000 participants quizzed, 2 in 5 Brits confessed that they wish they didn’t have to buy their colleagues a Secret Santa gift at all, whereas 3 in 5 Londoners are happy to participate.
The most common reason for the disdain towards the tradition is feeling that it’s a waste of time and money, with 3 in 5 agreeing with this sentiment.
Brits working in Science and Pharmaceuticals are willing to splash the most cash on their colleagues, with a generous average of £13 per gift, followed by those in sales who will spend £12.30.
Those most keen to get involved were creatives in the design industry, followed by those in publishing and journalism (76%). However, those most opposed were energy and utilities workers, followed by Accountants, Engineers and Lawyers.
CashLady.com’s Personal Finance Expert, Paul Wilson, said, “It’s shocking to see how much money is spent across the UK on workplace Secret Santas, particularly given the results that almost half of those who get involved wish they didn’t have to!”
“We’re very much in favour of spreading Christmas cheer, but perhaps it’s time for businesses to rethink their Secret Santa policy to alleviate workers from feeling the pressure, and to save money at a time where many Brits are facing financial difficulties.”