Brexit, the pandemic, the unfolding war in Ukraine, warnings of a cost of living crisis and record inflation have brought an unprecedented period of uncertainty for UK parents who are feeling extremely concerned about their mental stability and financial ability to cope with what lies ahead, according to GlobalData.

The leading data and analytics company’s latest *consumer survey, reveals that a quarter of people living with children under the age 18 are extremely worried about their mental wellbeing and personal finances, compared to just one in ten adult-only households.

Carmen Bryan, Consumer Analyst at GlobalData, comments: “Our latest consumer research explores how the current economic and political uncertainty is impacting UK parents’ thinking and subsequent spending priorities and how they are adapting to the changing world around them.

“Parents have been under a lot of pressure over the last few years as they have had to manage home schooling during lockdowns, balance work and family commitments and now they are contending with a cost of living crisis. So, national holidays like Easter, bank holidays and the Platinum Jubilee this June will more important than ever as they will provide a much-needed break from the current turmoil and a moment of relief for reflection and appreciation of our loved ones.”

For the 28% of parents who claim to be extremely worried about their finances, verses just 16%* of households with no children, national holiday plans and celebrations could well be scaled back this year as people see their disposable income drain away in higher food, fuel and utility prices. They could end up settling for ‘homecations’ instead of ‘staycations’ and opt for smaller scale more affordable indulgences rather than meals out, which will be of great concern for the UK foodservice, entertainment and tourism industries that will be desperate to increase revenues following a disastrous pandemic period.

Bryan adds: “Given the current inflation, products that exemplify wellbeing and a touch of indulgence while remaining affordable are likely to go down well. Perhaps the only positive to come from the pandemic is the spotlight it put on mental wellbeing, and this awareness has translated into general purchases; one in five* Brits actively prioritise products that are good for their mental wellness, and this will be elevated by introspection during holiday seasons.”

Consumer goods companies are meeting these needs through the range of products offered for occasion days like Easter. Easter Gifts are already on supermarket shelves from the classic Cadbury’s chocolate Easter Eggs to the Rituals Easter Egg Gift Set.

Bryan concludes: “The UK is a massive chocolate lover, with chocolate valuing £5.1 billion in 2020, a staggering 71% share of the country’s total confectionery value. So, we can be sure that selection boxes and chocolate slabs will be on the wish list this Easter. That said, we are seeing the concept around gift-giving expand. Ultimately, the name of the game is personalisation and we will see this through products that aid and promote relaxation, selfcare and indulgence throughout the year. People will want to reward themselves during national holidays, particularly as it looks like the hardships are expected to continue.”

* GlobalData’s 2022 Q1 UK consumer survey, sample size of 500 respondents