Eight out of ten parents are set to fork out more than £300 on exam result treats for their teens, according to new research.
Whether you are celebrating good grades or helping your child cope with exam result disappointment, you're not alone if you want to treat your teen for making it through their exams. While some parents offer to pay for exam results to help incentivise their teens, others are set to spend hundreds on clothing, tech and days or meals out to celebrate exam results. (If you're planning a meal out, make sure you check out the places offering freebies to students on results day).
Research from retail marketing consultancy Gekko shows that 84 per cent of parents are preparing to make good on incentives they promised their kids ahead of them taking their exams. More than half (58 per cent) say that they would buy a gift or treat for their child regardless of their results, while 36 per cent say they would spend more if their child's results were particularly good. According to the data, GCSE students will receive an average of £309.30 worth of treats, while parents will spend an average of £301.60 on sixth form or college students in the wake of A Level results day.
While more than eight of 10 parents (87 per cent) feel that it's important to celebrate when your children have worked hard, more than a third feel that there is no need to buy gifts to celebrate exam success. However, in a world where comparison culture is rife, almost half (47 per cent) admit they feel pressure to compete with other parents on rewarding their kids in a similar way. As a result, almost half (46 per cent) say that they will struggle to afford to buy exam result gifts.
"I feel a bit more pressure this year to match what other parents are doing, especially after I heard another parent talking about buying their child a car for results day..."
Claire, mum of two
Daniel Todaro, CEO at Gekko Group, says: “Children have put a lot of time and effort into their exams, and parents are keen to celebrate their success, but there is a lot of pressure at a time when many families are already struggling... ultimately rewards do not have to cost the earth. Parents should spend only what they can afford and don’t get swept up in this new exam gift phenomenon.”
Mum-of-two Claire told us that she's offering a cash incentive to her son this year for good grades, but that the hard work will be celebrated regardless of the results: "My eldest has just taken his A-levels and my youngest has just done his GCSEs. When my eldest did his GCSEs, we offered a cash incentive for particular grades, and we're continuing that with A-levels too. But regardless of how much we end up paying out, we will have a special family meal to celebrate the achievement of making it through the exam period and to show that hard work in general should be rewarded, and not only good grades.
"I feel a bit more pressure this year to match what other parents are doing, especially after I heard another parent talking about buying their child a car for results day. But it helps that we've already set a precedent with our eldest, and we'll follow the same rules with our youngest."
If your teen doesn't get the grades they are hoping for, it's worth knowing how to appeal A-level results, as well as what's involved when it comes to A-level or GCSE retakes. If your teen has just taken their GCSEs, then your mind might also be turning to what the AS and A-levels have in store.
