Crunch time hits present buying nation

Millions of office birthday parties will become present-free this year as gift buying becomes the latest casualty of the cutbacks Britons are making to survive the rising cost of living.

In a year when a series of cost of living hikes have struck the weekly food shop, the cost of running a car, mortgage payments and summer holiday costs, it appears that present buying is next. Cash-strapped Brits are preparing to strike people off their present list for 2008 - according to new figures from Pennygifts.com which launches in the UK this week.

The research from Pennygifts.com reveals that Britons buy an average of 19 presents for family members and loved ones each year, with 15 per cent of people surveyed claiming to buy more than 35 presents a year.

Women tend to be the top gift buyers (purchasing an average of 23 presents a year), compared to men who buy an average of 15 gifts. Incredibly more than 1 in 6 (16 %) women admit to buying more than 40 presents a year, compared to just 6 per cent of men.

However, this lavish behaviour is set for a cold shower as 84 per cent of people claim they will prune back their present buying in the wake of the countrywide squeeze on family budgets.

Tracking this trend, Pennygifts.com asked more than 2,000 people across the UK who would be first to be struck off the 2008 present list.

First for the chop…

Workaholic nation… Forget notions that Brits live to work – across all age groups and regions, the majority of Britons (24%) said that work mates and colleagues would be the first people to be dropped from their present lists. Office parties and birthday parties will be a lot quieter in the year ahead.

A man’s best friend ... may well be his dog, but a dog’s best friend is a woman! When it comes to present buying and pruning down the loved ones list, women were more likely to drop their husband or partner from their present list (12%) than their beloved dog (9%). In contrast, men had no qualms about dropping poochie from their present list.

Mother vs Lover… For young Brits, the girlfriend or boyfriend goes before mum when it comes to present cut backs. Although the under 25s may be the age group that are most likely to look to their friends for fun, when it comes to present buying, young Brits are the quickest to drop their mates from the present list (23%) and were among the least likely to forget about mum and dad.

Around the regions… Londoners and people in the South West emerge as the most stingy when it comes to buying gifts throughout the year (an average of 16 and 17 presents respectively). Londoners are also the first to ditch pets when it comes to present cut backs.

Those in the North East are those most likely to drop their partner from a present list (14%) and people in the North are most likely to stop buying presents for their children’s friends (9%).

Phil Angell, Director at Pennygifts.com commented: “For millions of Brits, the credit crunch and various cost of living hikes are beginning to bite. Many are thinking about the financial cutbacks that can or need to be made to survive the tough times and it’s a real shame that present buying is now in the firing line. This need not be the case though. When it comes to buying gifts, for most people it is the thought, not the cost of the gift, which really counts. This is the thinking behind Pennygifts.com; a revolutionary concept in gift buying that ensures the credit crunch need stop no one from sending a special gift to that special person – any time, any place anywhere.”

A Pennygift is a thoughtful surprise that the recipient receives each day with a message. From an audio word-a-day in Russian, to a daily pub quiz, to football facts about a favourite team, Pennygifts.com allow present buyers to buy gifts that are tailored, personal and thoughtful. They only cost a penny a day so money no longer needs to be a barrier to telling someone you love them or are thinking of them. Unlike sending greetings cards, Pennygifts are friendly to the planet: they don’t create waste and don’t have a carbon footprint.

Each gift covers a whole year and costs £3.65 (365 days at a penny a day). Present buyers can see examples of each gift before they buy.

The gift categories and novelty options on Pennygifts.com change daily: The Top 10 Pennygifts topics browsed this week include 80's Music Quiz, Arachnophobia, Audio word a day in Spanish, The England Football Team, Space: The Final Frontier and The Tennis Quiz.