Last year parents were spending an average £108 on technology for their children’s Christmas presents. This year, the average expected spend has dropped to £99, eight per cent lower.
And with families feeling the financial pinch, over a third of parents questioned will struggle to afford the electronic gadgets requested by their children.
One in ten are even planning on making their children wait until the January sales for their gifts, in order to make the most of the annual price slash.
Across the UK, children as young as five are clamouring for the latest gadgets. Over a quarter of children aged five to seven and more than half of those aged eight to ten have put tech gifts at the top of their Christmas lists.
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However, youngsters hoping for a tablet computer, games console or mobile phone may be disappointed, as 83 per cent of parents admit that the majority of presents they will be buying for their children will not be high-tech.
The research also reveals how much more brand aware the younger generation is becoming when it comes to technology. Four in ten parents claim their under 16s could identify brands such as Apple, Sony, Samsung and Amazon.
However, despite this love of the brand, almost one fifth of parents still say they will ignore their children’s brand loyalty, opting for a cheaper, more affordable alternative.
But others will do whatever it takes to make sure they satisfy their kids’ demands. More than one in ten will borrow on credit cards so their children aren’t disappointed, while 11 per cent will dip into their savings.