If you think celebrating your kid’s birthday with a cake and some party balloons in your backyard is enough you are sorely mistaken. These days parents are shelling out big bucks to make sure their kids day is special, regardless of how young their kid may be.
More and more parents are dipping into their bank accounts big time for kids’ birthday parties, with a recent report suggesting about 26% of parents spend more than $500 on a kids’ first birthday bash, while a British survey finds that parents spend about $28,000 on birthdays through the age of 21.
Dylan’s Candy Bar president Tushar Adya reveals that most birthday packages at their New York and Chicago stores run between $500 and $1,000, with 25 parties happening each week. “People are looking for differentiation and something that is truly unique,” he said.
Other big expenses include elaborate cakes, which can in some cases cost between $400 and $600, as well as entertainment, with one Virginia mom shelling out $400 for a live reptile show for her kids’ fifth birthday bash, which was probably a cheap expense considering the party took place at a country club with servers and an open bar for adults.
Not surprising, one reason for all these parents trying to outdo one another is social media. “We’re living in a very stylistic world, where there is incredible inspiration and content online that is visual eye candy,” event planner Keri Levitt tells Moneyish. “You can find a whale party, a pop star party, whatever your child is into. Everything is about the next level of detail.”
Source: New York Post