New Study Reveals How Much Parents Are Spending On Children’s Fashions
With fashion designers such as Lanvin, Marc Jacobs, Gucci, and Diane von Furstenberg all now taking their turn at children’s fashion, parents across the much of the globe are facing a new challenge; how much to budget for their children’s wardrobe!
A study conducted by Sheilas Wheels Insurance has revealed that UK parents of school-aged children are spending an average of £1,677 ($2680 USD,) per year on their children’s wardrobes. With “62% of children having at least one item of clothing from a top designer brand and 39% owning their first designer item before their second birthday.”
The study revealed that parents are spending £764 ($1221 USD) a year on the newest fashions, and that these children were found to own an average of 154 items, including underware and socks in their wardrobes. It was also revealed that a 26% of the children involved in the study wear a “designer watch or item of precious jewellery with 8% possessing an accessory valued up to £200. ($319 USD).”
Parents are not only buying the designer goods, but they are often times feeling guilty if they are unable to purchase an expensive article of clothing for their child. A rather high figure of 39% saw it as a “duty” to have their children’s clothing up with the trends, and sadly, 36% said worried that their children would be bullied if they were not in the “right” clothing.
The results of the study are a bit surprising given the current economy, and I question what the same study may look like in North America. Though as parents, it is hard to resist the temptation of spoiling our kids!