Children’s Day gifts now cost parents twice as much

South Korean parents expect to spend an average of 95,000 won ($64) on Children’s Day gifts this year, nearly double the amount from a decade ago, a survey showed Thursday.

According to English education company Yoon’s English School, 96 percent of parents said they planned to give their children gifts for Children’s Day, which falls on May 5. The survey was conducted from April 16 to 21 among 622 parents with children in elementary school or younger.

The expected spending was up 1.9 times from 49,000 won in a similar survey conducted in 2016, reflecting rising prices and changing gift preferences.

Clothing and accessories were the most popular gift choice, selected by 72.7 percent of respondents in a multiple-choice question. Toys and dolls followed at 44.4 percent, while sports and leisure goods such as bicycles came next at 34.2 percent.

Financial assets such as cash and stocks ranked fourth at 30.8 percent, followed by gaming devices at 30 percent. Learning materials and educational tools were selected by 29 percent, digital devices such as smartphones and laptops by 28.1 percent and books by 26.5 percent.

When choosing gifts, 69.2 percent of parents said they prioritized what their child wanted, while 60.6 percent said they considered whether the gift was necessary.

Another 42.7 percent cited whether the price was appropriate for the child’s age and household finances.

About 6 in 10 parents, or 59.8 percent, said they planned to give Children’s Day gifts until the upper grades of elementary school.

Another 21.4 percent said they would continue until their children graduate from middle school, while 5 percent said they would give gifts until high school graduation. Some 3.2 percent said they would continue even after their children become adults.

Asked about Children’s Day plans, 31.3 percent said they planned to visit an amusement park or theme park, the most common answer.

Domestic or overseas travel and camping followed at 21.5 percent, while 21.2 percent said they had no plans yet.

The survey also found that 67.2 percent of parents expected to receive support for gifts or related expenses from grandparents, relatives or others outside the immediate household.